Friday, October 17, 2025
27.2 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
spot_img

Hot this week

Troyka Holdings Chair, Biodun Shobanjo, Inducted into Loeries Hall of Fame

Nigeria’s foremost advertising leader and Chairman of Troyka Holdings,...

Stanbic IBTC Bank, NSACC Forge Path Towards Economic Resilience in Mining

L-R: Dr. Jani Ibrahim, National President of Nigeria Association...

Emirates, flydubai, Dubai Finance Partner to Accelerate ‘Dubai Cashless Strategy’

Emirates and flydubai have signed two Memoranda of Understanding...

Adopt-A-School initiative: Stanbic IBTC Transforms Learning Environment at Chwelnyap Primary School, Plateau State

L-R: Christopher John kyoroh, Local Government Chairman Jos North;...

“Oil Industry Investments Not Stifled by Local Content” – Nwapa, Pioneer ES NCDMB

The Nigerian Content Academy Lecture Series organised by the...

Topics

SIM Boxing and the Unboxing of a Crime Syndicate

Boxes have a multitude of uses, and the word...

Africa Oil Week, Nov 8,  Remains Force of Good for Africa

      Hyve Group Plc, organisers of Africa Oil Week (www.Africa-OilWeek.com)...

Protest: GOCOP Condemns Attacks on Journalists by Security Agents, Says Act Undemocratic

The Guild of Corporate Online Publishers (GOCOP) condemns, in...

William Lawson’s Crowns Two Naija Highlandah Winners in Truly Unconventional Twist 

L-R: Thomas Olumagin, Head Commercial Planning, Activation & Off...

Nigeria Applauds Take-off of WTO Trade Facilitation Agreement

Nigeria received with great excitement the announcement by Roberto...

Francophone Africa: The Continent’s Hottest Hospitality Market

Identified as a strategic growth point for major international...

‘Kari Not Arrested by DSS’: NAICOM

The National Insurance Commission wishes to state that the...

CBN Vs NESG: Expert Warns of Negative Impact on Economy

Mr. Godwin Emefiele Governor Central Bank of Nigeria (CBN) The raging feud...
spot_img

Related Articles

Popular Categories

spot_imgspot_img