Yahoo Shares Slightly Higher Following NY Post Report Of Interest In Japanese Assets By Softbank

Shares of Yahoo! Inc. YHOO were trading higher by nearly 1 percent early Friday morning after the New York Post reported that Japan-based SoftBank is exploring a potential purchase of Yahoo's internet assets.

The New York Post, citing "a source," stated that SoftBank's President Nikesh Arora is engaged in "active" discussions with Yahoo's board of directors. The publication suggested that SoftBank is "in the catbird seat" if it can reach an agreement with Yahoo to acquire its internet assets.

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SoftBank and Yahoo already have an existing relationship. SoftBank owns a 36.4 percent stake in Yahoo Japan, which is a higher ownership stake compared to Yahoo's 35.5 percent.

The New York Post's source also stated that "things are quite active."