Yahoo Sale: Stock Rises as Comcast, AT&T, Verizon Reported Among Interested Buyers

Yahoo shares climbed as much as 3% Monday in the wake of a report that Comcast, AT&T and Verizon are likely to be among parties engaging in talks about acquiring the Internet company.

On Friday, Yahoo said its board formed a strategic review committee that would begin reaching out to potential buyers, and had retained financial and legal advisers for the process.

Yahoo could start approaching possible bidders Monday, and those might include AT&T, Comcast and Verizon, Bloomberg reported. Others interested in exploring a deal for Yahoo include private-equity firms Bain Capital Partners, KKR and TPG, according to the report, citing anonymous sources.

Yahoo said it doesn’t plan to comment on the sales process “until a definitive transaction agreement is reached or a determination has been made that none will be pursued.”

Previously, Verizon’s AOL unit, headed by CEO Tim Armstrong, indicated it would be interested in exploring a potential deal with Yahoo. Verizon bought AOL in a $4.4 billion deal last year.

CEO Marissa Mayer has been in the crosshairs of investors unhappy with the company’s performance under her leadership. The potential sale of Yahoo — as a whole or in pieces — comes as the company also is laying off 15% of its workforce and restructuring its business. That includes a move to refocus media efforts on four key content verticals (news, finance, sports and lifestyle), and shutting down some properties; last week Yahoo said it was shuttering seven “digital magazines.”

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