NEW YORK (AP) — Shares of Yahoo are up sharply before the opening bell on a report that the company will discuss the sale of its Internet business.
The Wall Street Journal reported late Tuesday that the board of Yahoo Inc. is meeting this week to talk about what shape the company will take going forward. The article, citing anonymous sources, says private equity firms are among those looking at Yahoo’s websites.
Representatives for Sunnyvale, California, company did not immediately respond to a request for comment early Wednesday.
Last month, activist investor Starboard Value urged Yahoo to scrap a planned spinoff of its lucrative stake in Chinese e-commerce company Alibaba and sell its own Internet business instead.
Shares of Yahoo rose more than 4 percent to $35 in premarket trading.
from Business Insider http://ift.tt/1MWcyAL