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Yahoo bid deadline extended-Re/code

Friday, April 08, 2016 - 00:57

Yahoo has moved its April 11 deadline for bids back by a week, as the company auctions off its core internet business, including search, mail and news sites. Bobbi Rebell reports.

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Yahoo is extending the deadline to bid for its core businesses by a week to April 18th, according to technology news website Re/code. That business includes search, mail and news sites. Likely bidders include Verizon as well as Alphabet's Google. Max Wolff of Manhattan Venture Partners says others could emerge: (SOUNDBITE) MAX WOLFF, CHIEF ECONOMIST, MANHATTAN VENTURE PARTNERS, (ENGLISH) SAYING: "We are not surprised there is interest. What clearly has happened is bankers are excited. If you are a banker running an auction and new folks show up to the auction with big sagging pockets full of huge wallets you do what you need to do to get yourself a little more time." Yahoo has struggled to keep up with Alphabet's Google unit as well as Facebook in the battle for online advertisers. The company has been under pressure from activist investor Starboard Value, which last month tried to overthrow the entire board, including CEO Marissa Mayer. Yahoo abandoned previous plans to spin-off its stake in Chinese e-comerce giant Alibaba. The company declined to comment.

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Yahoo bid deadline extended-Re/code

Friday, April 08, 2016 - 00:57