Apr 16, 2016 12:09 PM EDT

Yahoo Sale News: Company Hiding Financial Information To Bidders? Verizon, SoftBank Vie For Sale

Current Yahoo sale news alleged that the company may be hiding important financial information to its potential buyers. The web giant is still accepting bids.

Silicon Beat reported that the company has been hesitating in providing details of its financial status to bidders. Moreover, there may be "far fewer suitors" gearing up for the Yahoo sale than what people have been led to believe.

According to The New York Times, the company's executives have revealed "gloomy financial projections" but did not discuss their future plans for the next year. Potential buyers have even asked Yahoo what they actually were selling.

Previous Yahoo sale news have revealed that the company will continue to accept offers until Monday, Apr. 18. Verizon Communications Inc. is believed to be making its first-round bid.

Furthermore, Alphabet Inc.'s main division, Google, is believed to be considering a bid for Yahoo's core business. AT&T Inc. and Comcast are said to have decided against bidding as well as Microsoft Corp., which lost a bid for the company in 2008.

Kpopstarz added that the Daily Mail is also interested in the Yahoo sale. The British website is said to be in early stages of discussions with other investors.

Apparently, the Daily Mail has been meeting up with several private-equity firms to help with the financing of the bid. One company was said to be General Atlantic LLC. However, a spokesperson declined to comment on the matter.

The New York Post noted that Verizon and SoftBank are going head-to-head for the Yahoo sale. The two companies are headed by two ex-Google employees, Tim Armstrong and Nikesh Arora, respectively.

Verizon is considered as the best choice and appears to have a solid support from key investors. SoftBank, on the other hand, is said to be looking at acquiring Yahoo as a whole. He is also believed to be waiting for Verizon's offer before he makes a move.

Get the Most Popular Jobs&Hire Stories in a Weekly Newsletter
© 2017 Jobs & Hire All rights reserved. Do not reproduce without permission.

Join the Conversation

Real Time Analytics