Daily Mail eyes bid for troubled Yahoo
Britain's Daily Mail is in talks with potential partners to mount a joint bid for Yahoo's internet assets, eyeing a plan to buy the troubled US internet pioneer to help boost advertising revenues from the Mail's online news site.
The Mail said yesterday that it was in early stage discussions with several parties about a possible bid, confirming a 'Wall Street Journal' report. "We have been in discussions with a number of parties who are potential bidders," a spokeswoman for DailyMail.com said, declining to name the private equity firms.
Liberum analyst Ian Whittaker said that "the US has been the main driver of digital growth for Daily Mail & General Trust, whilst traffic has grown well they haven't quite monetised this traffic as successfully as they would have liked".
Bids for Yahoo are due on April 18, in an auction which is likely to be hotly contested. (Reuters)