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Internet

Ex-AOL CEO Miller in financing talks on Yahoo! bid - report

Wednesday 3 December 2008 | 12:29 CET | News
Former AOL CEOJonathan Miller is talking to investors about raising money to purchase all or part of Yahoo!. Miller, who ran AOL from 2002 to 2006, has been sounding out private-equity investors and sovereign-wealth funds for months, people familiar with the matter told the Wall Street Journal. According to the paper's sources, it's unclear where the talks stand. Miller believes he can fashion a deal that would be worth about USD 20-22 a share, which would involve raising about USD 28-30 billion to purchase the entire company. Both Miller and Yahoo! declined to comment. Miller, a partner at investment firm Velocity Interactive Group, has been a behind-the-scenes player in discussions between Yahoo and Microsoft for months, advising both sides on how to make a deal between the two companies work. This summer, Yahoo was poised to appoint him as a board member as part of settlement to activist investor Carl Icahn's proxy fight. But when Time Warner told Miller it planned to enforce his non-compete agreement, Miller withdrew his name.

Categories: Internet
Companies: Yahoo!
Countries: World
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