David Faber Says WSJ Is Wrong On Yahoo's Bids

The Wall Street Journal reported Friday morning that Yahoo! Inc. YHOO may have ran into a bit of a roadblock in its quest to sell its internet assets. Yahoo's stock tumbled around 5 percent after The Wall Street Journal suggested that bids for Yahoo's internet properties are falling in a range of $2 billion to $3 billion, noticeably short of a $4 billion to $8 billion figure that Bloomberg previously suggested. Related Link: Bidding Prices For Yahoo's Internet Assets Notably Below Prior Expectations However, CNBC's David Faber suggested that the publication's figure is not accurate. Citing "numerous people with knowledge of the process," Faber said that "no one has seen numbers of that type." In fact, the CNBC host added that his sources have confirmed that a $2 billion to $3 billion is a figure that itself is $2 billion to $3 billion lower than the lowest bid Yahoo received in the first round of bidding. Faber continued that the auction process is actually "fairly robust" and that once again the figures quoted in The Journal's report is "completely wrong." Shares of Yahoo were trading lower by nearly 2 percent after one hour of trading on Friday.