SAN FRANCISCO (AP) — Shares of Yahoo Inc. rose Monday as more reports emerged that potential buyers are circling the Internet search company.
The stock rose 36 cents, or 2.3 percent, to $15.83 in afternoon trading after Reuters reported that Yahoo co-founder Jerry Yang may organize a buyout with private equity firms. Bloomberg reported that Alibaba, China’s biggest e-commerce site, has talked to Singapore’s state-owned investment company, Temasek Holdings, about financing to buy out Yahoo’s 40 percent stake in Alibaba.
Both news organizations cited unidentified people familiar with the situation.
Yahoo said that the “entire board, including Jerry, is fully aligned and unanimous in support of the comprehensive scope of the ongoing strategic review. As always, Jerry’s singular focus remains to serve the best interests of Yahoo — its shareholders, employees, users and advertisers.”