Potential bidders have been given until 11 April to put forward preliminary offers for the group's internet arm as well as its Asian businesses, according to the Wall Street Journal.
It could mean Yahoo closing a deal by June or July, according to the Journal. There was no immediate response from the group.
The faded internet pioneer put its core business up for sale in February after shelving plans to spin off its lucrative $33bn (£23bn) stake in Chinese e-commerce business Alibaba – which could have landed it with a tax bill of more than $10bn (£7bn).
Possible buyers are said to include US telecoms giant Verizon Communications and publisher Time Inc as well as private equity investors TPG and Kohlberg Kravis Roberts.
Yahoo chief executive Marissa Mayer has faced growing pressure to bolster the group's performance and share price, with activist investor Starboard Value last week launching a battle to replace its entire board.
The company last month launched its latest turnaround plan which includes cutting around 1,700 jobs or 15% of its workforce, with an aim of saving around $400m (£280m) a year.
Yahoo has seen revenues continue to decline despite previous shake-up efforts under Ms Mayer.
Follow The Forefront on:
> Instagram Global photos and vlog: osagiejoshua
>BBM Channel: C002CB006
| Share this post with others on social media with options below. |
No comments:
Post a Comment
Disclaimer!!! Opinions expressed in comments do not represent THE FOREFRONT MEDIA NG's views. All participants are entitled to their opinions. Thank you!!!
Advertise on the Forefront: For advert placement in the blog or advert posts like news updates, reach +2348124620827 [WhatsApp].
Copyright 2023 The Forefront Media Ng. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from The Forefront Media Ng