Verizon Interested In Buying Yahoo Inc.
Verizon says that it would take a look if Yahoo offers itself for a buy out
Yahoo Inc. seems to be the most trending topic in the tech industry nowadays. In the coming times, it is believed that the company would be making some major decisions regarding its future in the industry. One of the well known activist investor of the company, Starboard Value, suggested the company to give up on its core business instead of stakes in either Alibaba Group or Yahoo Japan if there is any similar opportunity. Sources familiar to the matter suggested that the company is now considering making itself available for purchase, however the final decision awaits.
Alibaba was named as one of the possible potential buyers of the internet company however the company immediately ruled out any possibilities linking it as a potential buyer. Hence now various private equity firms, internet firms, and media firms are looking to buy out Yahoo. However one very unlikely company has come out and named itself as a potential buyer of the internet company.
The wireless network carrier giant, Verizon, is open to possibly acquire Yahoo in the coming times. The Chief Financial Officer (CFO) of the company, Fran Shammo, stated that if and only if the deal made sense then his company would approach Yahoo with an official bid request to buy out the company.
Fran Shammo expressed his wish when he was speaking at the investor’s conference in the New York. It is still unclear whether the Yahoo board has intentions to sell the company’s core business or not but nevertheless Verizon seems interested. Shammo added that the company would certainly take a look if Yahoo offers itself for a buy out.
He stated at the UBS Global Media and Communications Conference, “If we see there is a strategic fit and it makes sense for our shareholders and we can return value, I mean we’ll look at it, but at this point it’s way too premature to talk about that one.”
In the beginning of this year, Verizon invested $4.4 billion to acquire AOL Inc. which would assist the company in strengthening its mobile video advertising space. On the other hand, Yahoo owns a lot of services and website that might interest the wireless network carrier company. It owns and operates sports website, Mail, financial news, and general news therefore all of it would be scrutinized before Verizon makes its official move, if given the opportunity.
Fran Shammo added, “We look at everything across this spectrum. All I can say is we don’t know what Yahoo’s board will decide. It’s too early to know.”
