Tuesday, September 16, 2025
23.5 C
Lagos

Verizon Plans $3bn Bid for Yahoo

USA based Verizon is reportedly submitting a second round bid to buy Yahoo’s internet assets. The company is offering a reported $3 billion for the website services of the former search giant.

Verizon will also face competition as the buyout firm TPG will also participate in the second phase of the auction.

Verizon’s participation in the auction is not a massive surprise as the company has been building up its internet content assets and just over a year ago it paid $4.4 billion for AOL.

Verizon indicated it isn’t interested in acquiring certain Yahoo assets, such as patents and real estate — leaving the former search company looking to sell off those separately.

Competition to buy Yahoo’s web businesses and the prices being offered reportedly declined following a presentation by Yahoo’s CEO, Marissa Mayer to potential bidders.

Yahoo posted a loss of $99 million on revenue of a little over $1 billion in the first quarter of this year. The bulk of its roughly $35 billion market capitalisation is now comprised of its stakes in China’s Alibaba Group and Yahoo Japan.

spot_img
spot_img

Hot this week

Designing the Future: Arc Christian Benimana, Prof Taibat Lawanson to Headline Ecobank Design and Build 2025

Ecobank Nigeria has announced that celebrated architect Arc. Christian...

Sovereign Trust Insurance Wins Enactus Catalyst Award

From L-R: Victor Akinfala, Head Partnerships & Special Projects,...

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

The Director General of the Securities and Exchange Commission...

Universal Insurance MD/CEO, Jeff Duru, Bags CIBN Associate Membership

  Dr. Jeff Duru Managing Director/CEO Universal Insurance Plc The Managing Director/CEO of...

Sterling One Foundation CEO, Olapeju Ibekwe, Joins Board of UN Global Compact Network Nigeria Ahead of UNGA 80

    Olapeju Ibekwe, Chief Executive Officer of Sterling One Foundation,...

Topics

Red Flag: FCMB to Delay Release of Q3 Result by 30 Days!

There is palpable concern in the financial market over...

HR: Mercer South Africa, EZ37 Solutions Nigeria in Strategic Partnership

Mercer South Africa (Consulting) (Pty) Limited announced on 25...

Sovereign Trust Insurance CEO, Soyinka, Salutes Nigerian Workers on May Day

As the world marks this year’s edition of Workers’...

AfDB Seeks US Support for $1.5bn Emergency Food Plan for Africa

The president of the African Development Bank Group, Dr....

PenCom: Continuation of Contributor Data Recapture Exercise by PFAs

The National Pension Commission (PenCom) is pleased to invite...

Afrinvest, FSDH, Others Place “Buy” on Fidelity Bank Stock

Highly-rated, independent investment advisory firms have picked Fidelity Bank...

Tinubu Commissions WAGL’s 40,000 CBM LPG Vessel in South Korea

Dignitaries at the naming ceremony of the 40,000 cubic...

World Bank Unveils $12bn Support for Coronavirus Country Response

  As COVID-19 reaches more than 60 countries, the World...
spot_img

Related Articles

Popular Categories

spot_imgspot_img