US telecommunications company Verizon plans to submit a takeover bid for internet company Yahoo’s online business next week, according to the Bloomberg news agency.
Verizon’s bid will include the company’s Yahoo Japan stake, while internet company Google, media company Time and private equity funds Bain and TPG are among the other potential bidders.
Software company Microsoft, which failed with a hostile bid for Yahoo in 2008, will not table an offer this time, the report added.
First-round bids for the company’s main online assets are due by April 11.
Yahoo has increased its activity in sports activities considerably since the turn of the year, striking partnerships with the North America’s Major League Baseball and NHL ice hockey league, as well as golf’s PGA Tour.
Verizon would replace Yahoo chief executive Marissa Mayer with a two-person team of AOL chief executive Tim Armstrong and Verizon’s executive vice-president, Marni Walden, who would run a combined Yahoo and AOL, the report added.