Yahoo! Considering Web Business Sale; Shares Moving Up


Shares of Yahoo! rose by 2.40% to $30.90 on Friday on report that the company will sell its main Internet business.

Yahoo! is reassessing plans to spin off its businesses as a separate company, Bloomberg reported, citing unnamed people familiar with the matter.

Yahoo! is facing a strong pressure from activist investor Starboard Value and other shareholders.

Verizon Communications Inc. could be one of possible buyers of Yahoo! business.

Last month, Verizon Chief Executive Officer Lowell McAdam and Chief Financial Officer Fran Shammo both said that the company would look at a Yahoo deal “if it made sense.”

Source: Bloomberg