Verizon Reportedly To Proceed With Yahoo Bid

(RTTNews) - Verizon Communications Inc. (VZ) plans to make a first-round bid for Yahoo Inc.'s (YHOO) Web business next week, and is willing to acquire the company's Yahoo Japan Corp., Bloomberg reported citing people familiar with the matter.

The report said that Google is also considering bidding for Yahoo's core business.

According to the report, Potential suitors AT&T Inc. and Comcast have decided against bidding. Microsoft Corp., which failed with a hostile bid for Yahoo in 2008, won't bid this time.

Time Inc. is still evaluating a bid, while private equity funds Bain and TPG -- among others -- are also planning to make a run at the business, either alone or by backing a strategic acquirer, the report said.

While the buyout firms haven't yet paired themselves with a strategic buyer, they are open to the idea of doing so, the report noted.

The report indicated that first-round bids for the company's main Web assets are due April 11.