Microsoft in talks to back firms bidding for Yahoo

The latest update comes as Yahoo launched an auction of its core business in February afterit shelved plans to spin off its stake in e-commerce behemoth Alibaba Group Holding.
Yahoo has faced increasing pressure from shareholders to sell its core business instead ofcarrying out a spinoff that would separate the company from its multibillion-dollar stakes inYahoo Japan and Alibaba Group.
However, questions rose on the company's commitment to the action, as CEO Marissa Mayer told Reuters in February that Yahoo will entertain offers as they come but its first priority is aturnaround plan.
Microsoft's interest could give the bidding process some seriousness, reported the Decode,adding that sources said the software giant has made no commitments so far to anyinvestors, and any discussions are exploratory.
Microsoft's move is an attempt to ensure a good partnership with Yahoo's buyer, said thewebsite citing unnamed sources, as the company maintains close search and advertising tieswith Yahoo.
Yahoo has set an April 11 deadline to submit preliminary bids for its core web business andAsian assets, according to the Wall Street Journal on Monday.
The company asked bidders to hand in proposal details, including what assets they hope toacquire and for what price, reported the Journal, citing a letter sent to possible bidders.
According to the newspaper, some buyers may be only interested in its core web business,and others may also propose to acquire the stakes in Alibaba Group or Yahoo Japan.Potential bidders include telecommunications company Verizon Communications Inc andpublisher Time Inc, as well as private equity firms TPG and KKR, but the process is in theearly stages.
Source: Chinadaily