AT&T has made a bid to acquire Yahoo, people familiar with the matter told Bloomberg. The operator is interested in Yahoo's core internet business. AT&T had previously decided against making an offer, people familiar with the matter said in April. AT&T kept one foot in the process through its stake in digital advertising business YP Holdings, which had proposed a merger with a subsidiary spun out of Yahoo’s core business. However, YP is no longer pursuing such a transaction, according to Bloomberg's sources.
AT&T is bidding against rival Verizon, which has long been considered a frontrunner to buy Yahoo. While Verizon remains a favorite to acquire Yahoo, it didn’t submit one of the highest first-round bids, two of the people said. In total, the company received more than 10 initial offers ranging from about USD 4 billion to USD 8 billion, people familiar with the matter have said. The sales process is likely to continue for another two to three weeks and is “well along the way,” CFO Ken Goldman said 24 May at JPMorgan Chase & Co’s Global Technology, Media and Telecom Conference.
