Report: Verizon to bid US$3bn for Yahoo

US mobile operator Verizon planned to submit a US$3 billion second-round bid for Yahoo’s core web assets ahead of yesterday’s deadline, according to the Wall Street Journal.

The report said that Verizon was expected to meet Monday’s deadline for second round of bids, with Yahoo expected to hold “at least one more” cycle of bidding, citing people familiar with the matter.

Private equity firm TPG was also expected to submit a second-round bid before the deadline, but it was unclear if other earlier bidders like Advent International and Vista Equity Partners would do the same, said the WSJ.