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U.S. telcos will reportedly be invited to submit final-round bids for Internet company.
AT&T and Verizon are among the select few bidders still in the race to acquire Yahoo’s core Internet business, it emerged on Monday.
According to Reuters, Yahoo’s board has already met to discuss and second-round offers and this week will tell potential suitors whether they have made it through to the third and final round.
Meanwhile, Bloomberg reported late last week that Verizon, which is said to be the favourite to land Yahoo, submitted a second-round bid worth US$3.5 billion (€3.11 billion). AT&T reportedly bid $5 billion, as did Cleveland Cavaliers basketball team owner and founder of online lender Quicken Loans, Dan Gilbert.
All three are expected to be invited to make final offers.
Sources cited by Reuters on Monday said that some private equity firms that participated in the second round have not made it through.
40 companies initially showed interest in acquiring Yahoo’s Internet assets, but only 10 pushed ahead with first-round bids.
Last week it was claimed that Yahoo has put its 3,000-strong patent portfolio on the block. The company expects to raise at least $1 billion from the process.
Once Yahoo sells its Internet assets and patents, it will be left with its stakes in Yahoo Japan and Chinese e-commerce giant Alibaba.
