Market Overview

Yahoo Japan Gains 6% In Tokyo Trading, Verizon Said To Be Interested In Stake

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Shares of Yahoo Japan Corporation gained more than 6 percent during Tokyo's trading session as reports surfaced Verizon Communications Inc. (NYSE: VZ) may be interested in acquiring a stake.

Reuters reported late Thursday afternoon that Verizon is preparing a bid for Yahoo's internet assets and may be open to acquiring Yahoo's 35.5 percent stake in Yahoo Japan to sweeten the deal.

Reuters noted that Verizon's interest in Yahoo's assets was apparent as early as last December. The publication further suggested that by making an offer for Yahoo Japan, Verizon could be "one step ahead" of rival bidders.

 

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