Verizon to submit $3-billion bid for Yahoo’s net biz

NEW YORK: Verizon Communications plans to submit a second-round bid of around $3 billion for Yahoo Inc’s core internet business, the Wall Street Journal reported,

NEW YORK: Verizon Communications plans to submit a second-round bid of around $3 billion for Yahoo Inc’s core internet business, the Wall Street Journal reported, citing people familiar with the matter. Private-equity firm TPG was also expected to submit a second round bid for the assets before Monday’s deadline, the newspaper reported. Yahoo is expected to hold at least one more round of bidding, and the offers could change by the final round, the paper reported.

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