Google Reportedly Mulling Bid for Yahoo’s Core Business

Alphabet Inc’s Google unit is mulling a bid for Yahoo Inc’s core business, Bloomberg reported, citing a source.

Verizon Communications Inc, which has been rumoured to consider bidding for Yahoo, plans to make a first-round bid for the Internet giant’s web business next week, Bloomberg reported, citing people familiar with the matter.

AT&T Inc, Comcast Corp and Microsoft Corp are not bidding this time, Bloomberg said on Thursday.

Yahoo shares were down 1 percent and Verizon shares were down 3 percent.

Yahoo launched an auction of its core business in February after it shelved plans to spin off its stake in Chinese e-commerce giant Alibaba Group Holding Ltd.

Verizon and Yahoo declined to comment.

Google, AT&T, Comcast and Microsoft could not be reached immediately for comments.

© Thomson Reuters 2016