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AT&T joins bidding for Yahoo! - report
2016-05-26 08:39:00| Telecompaper Headlines
(Telecompaper) AT&T has made a bid to acquire Yahoo, people familiar with the matter told Bloomberg. The operator is interested in Yahoo's core internet business. AT&T had previously decided against making an offer, people familiar with the matter said in April. AT&T kept one foot in the process through its stake in digital advertising business YP Holdings, which had proposed a merger with a subsidiary spun out of Yahoo's core business. However, YP is no longer pursuing such a transaction, according to Bloomberg's sources. AT&T is bidding against rival Verizon, which has long been considered a frontrunner to buy Yahoo. While Verizon remains a favorite to acquire Yahoo, it didn't submit one of the highest first-round bids, two of the people said.
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Category:Telecommunications