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Yahoo worth more than market cap suggests - Max Wolff

Friday, April 08, 2016 - 03:29

Max Wolff of Manhattan Venture Partners talks about the Yahoo's evolving strategy to sell off its core business, including mail and news. Bobbi Rebell reports.

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Yeah pushing back the deadline for bidders had scored isn't sensed for a patent answer. Has always. Always my pleasure thanks when he thinks. So we've long been including on your air pretty confident that this company was worth a lot more than a market cap sort of suggested. Yahoo! Japan being more valuable Alibaba stake being discounted and the intrinsic value of toddler to the other assets being non negative which they were kind of reputed to be. So we're not surprised there's interest what could happen is bankers are excited. If your banker running an auction and you folks sharply option would be exacting pockets full of huge wallets. You do you need to do it gave a little more time. So there's a lot of means being. New Verizon was the early ones that have come up so rice has certainly been an alphabet of parent company of Google's been bandied about quite extensively. I think we're seeing a whole bunch Comcast even thrown into the mix sometimes not so clear where that comes from. We've we've still longs going discussion by the way back to the AOL independent days before Verizon bought them up. About there being real value possible combination you're a log on who we can do you think that's. Significant possibility down the road here but. Big media companies love this audience they love the content they love the distribution channel. It's all question here of price Reno wants to pay a premium but. There's enough room to get a good price somewhat still pretty exciting that and you don't see Internet assets of this size on the block to off. It's interesting and exciting because it's really been ignored. For so long. Well there's a huge. For the situation last two years where what you'll pay almost anything for growth and almost nothing for everything else this is the company has run down. There are lots of negative rumors here it looks like they are pretty significant top line and earnings downward trend. That being said they were already more than discounted for all the bad news it seems to be out there so I do think in terms of the risk reward here in the future pretty well known not a surprise. I think given the power quality of the earnings you're buying the multiples are way lower than other peers that have the last established last broad geographic reach. We'll be caller I think in terms of the assets and we see that there is split up I had multiple buyers is possible we could see syndicate we might see some reshuffle that that's very quickly away. So we get a single Biotech something's probably odds on favorite. We'll see him spin out some units possibly of their pre existing holdings and certainly some of these holdings because. Part of the knock on Yahoo! which I think does make sense is. Not all the assets of Yahoo! portfolio meet a ton of sense or were optically treated in the portfolio so there could be. A bunch of some of the parts less than the parts that would strongly argue for some discs. Assembly of some of the pieces here we do expect that after any purchases effective and completed. Most likely won many people are talking about. Verizon that's just it the most beginning the most buzz if that happens how does Verizon integrate. These assets to receive them kind of cast aside certain parts of it that they have to take initially and sell off. Yes and we'll see a bigger reorganization that will see it top honors gala last that would sort of wanted a long time. I want get a sort of super bail out the best of Yahoo! as well let's remember search may not be tops to Google obviously but it's still a serious search play. We thought series finance placed officers sports play we have time content. We have a lot of visitors we have Tumblr there's a lot of pieces in here and there's a big future for a whole lot of of inside or outside the single time partly to thank you so thank you. Our thanks to Manhattan venture partners Max wolf I thought there about this is Reuters.

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Yahoo worth more than market cap suggests - Max Wolff

Friday, April 08, 2016 - 03:29