Verizon Communications Inc has given Tim Armstrong, chief executive officer of its AOL unit, a leading role in exploring a possible bid for Yahoo Inc’s assets, Bloomberg reported, citing a person with knowledge of the situation.
Verizon, the largest U.S. wireless carrier, hasn’t hired bankers to conduct an offer and there have been no formal talks, according to the report. Yahoo said last week that it would consider “strategic alternatives” for its core Internet business, even as it continues with its plan to revamp the business and spin it off.
