Verizon Reportedly Moving Forward with Yahoo Bid

Apparently Verizon is also willing to acquire Yahoo’s Japan division if that would help the offer.

Despite this, Verizon’s bid could be up against competition from Google and Time Inc., which are also reportedly weighing whether to make an offer.

However, Bloomberg said many companies that had been seen as likely investors in Yahoo were not planning a bid, including AT&T Inc (T.N), Comcast Corp (CMCSA.O) and Microsoft Corp (MSFT.O).

First-round bids for the company’s main Web assets are due April 11, a person with knowledge of the matter said last week.

After rising briefly, Yahoo! shares are now down 18 cents, or half a percent, at $36.48.

The latest report has Verizon as the most serious about a making a deal for the former web giant. The valuation of the combined assets would make it more hard for private equity firms to finance a bid for both parts. AT&T, Comcast and Microsoft could not be reached immediately for comments.

A Verizon spokesman declined to comment. At the time, Entner called Yahoo’s business “a train wreck”. Yahoo is said to be in a financial meltdown, as expected results from 2016 are that revenue will drop close to 15 percent and earnings by over 20 percent.

According to Bloomberg sources, Verizon would give Yahoo CEO Marissa Mayer the boot and combine Yahoo and AOL under the direction of Verizon executive vice president Marni Walden and AOL CEO Tim Armstrong.

Japan’s SoftBank Group Corp. has always had tepid interest in buying Yahoo, two of the people said.