Verizon is expected to put up a bid for struggling internet services firm. Yahoo. A report from Bloomberg also suggests that Google is considering an offer of its own.
Snoops say Verizon is considering making a bid for Yahoo’s core internet business and its stake in Yahoo Japan.
Verizon believes the core business is worth less than $8 billion.
Verizon plans to replace Yahoo CEO Marissa Mayer with AOL CEO Tim Armstrong and Verizon’s executive VP, Marni Walden, who would run the combined entity, the report said.
Time and private-equity funds Bain and TPG remain interested in making a bid, Bloomberg claims.
Microsoft, AT&T, and Comcast will not make bids, although Microsoft could make a “token investment” to maintain its relationship with Yahoo.
Yahoo shares initially jumped 1.6% on the news, but quickly reversed course and the stock was down roughly 1%.
The sale comes after a three year fight by CEO Marissa Mayer to turn around the struggling internet services company.
According to a Re/code report, Yahoo’s telling potential buyers that it expects to see its revenue drop another 15% in 2016.
While Google may be interested in making a bid, the company is likely to face regulatory hurdles because of its already massive stranglehold on the internet search market.