Verizon will submit $3 billion bid for Yahoo's online business
Verizon Communications Inc is on the verge of submitting a second-round bid of approximately $3 billion for a well-known search engine giant Yahoo. To be exact, the funds have been allocated to Yahoo’s online business, as the Wall Street Journal states, citing folks already familiar with the matter.
Private-equity company TPG was also supposed to submit a second round request for the assets before the official deadline on Monday, according to the popular newspaper.
Yahoo is expected to hold at least one more round of bidding, and the offers could change by the final round. That’s what we’ve just learnt from the popular paper the Wall Street Journal.
By the way, one of the leading search engines, Yahoo is still staying away from commenting on the report. As for Verizon, this company refused to comment too.
Unfortunately, reporters of the Wall Street Journal appeared to be unable to reach TPG immediately for comment outside U.S. business hours.