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Verizon To Bid $3bn For Yahoo

Verizon Communications has said it plans to submit a second-round bid of around US$3 billion for Yahoo’s core Internet business.

The telco, seen as the leading contender to buy the Internet giant, is expected to meet this week’s deadline for the second round of bids. Yahoo is expected to hold at least one more round of bidding, and the offers could change by the final round.

Verizon has stressed that it is not interested in acquiring certain Yahoo assets, such as patents and real estate, as part of the deal.

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