AT&T Said to Be the Latest Company Bidding for Yahoo’s Internet Business

May 25, 2016, 3:47 PM UTC
Photograph by Lisa Werner Moment Editorial/Getty Images

AT&T, the No. 2 U.S. wireless carrier, has made a bid for Yahoo’s Internet business, Bloomberg reported on Wednesday, citing people familiar with the matter.

Yahoo’s shares recouped some of their losses following the report and were down 1.9% at $36.79 in late morning trading. They had dropped as much as 3.7% earlier.

AT&T (T) had previously decided against making an offer, people familiar with the matter told Bloomberg in April.

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Reuters, citing sources, reported on April 29 that Yahoo had shortlisted close to 10 bidders in an auction for its Internet business, including Verizon Communications (VZ), the biggest U.S. wireless carrier.


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While Verizon remains a favorite, it didn’t submit one of the highest first-round bids, Bloomberg reported on Wednesday, citing two of the people.

Digital advertising company YP Holdings, which is backed by AT&T, is no longer pursuing a bid, the report said.

Yahoo and AT&T did not immediately respond to a request for comment.