AT&T at first demurred from making a direct bid for Yahoo’s internet business, but remained involved in the process via YP Holdings LLC, in which the telecom giant has a stake. Now, YP has dropped out and AT&T has stepped up to the plate, according to Bloomberg. The move pits AT&T against rival Verizon, which has signaled its interest in Yahoo for months.
Both companies, with market capitalizations of over $200 billion, can afford the transaction. It’s unclear where exactly bids will land, but recent reports point to a price in the range of $2-3 billion.