Yahoo Inc. is exploring the sale of up to US$3 billion worth of patents, property and other non-core assets, a top company official said on Thursday.
Chief Financial Officer Ken Goldman told an audience in San Francisco that a committee created to explore alternatives to the company’s plan to spin off its core business is looking at quick sales of assets, Reuters reported.
Patents, land, property and non-core units or businesses are all on the table for potential disposal, Goldman was quoted as saying at the Morgan Stanley Technology, Media and Telecom Conference.
He pointed out that Yahoo has sold or licensed more than US$600 million in patents over the last three years.
The announcement comes as Yahoo faces growing pressure from shareholders and investors to sell its core business instead of going through a spinoff that would separate the firm from its multibillion-dollar stakes in Yahoo Japan and Alibaba Group, Reuters noted.
In recent weeks, there have reports that Time Inc., Verizon Communications and several other suitors have emerged as potential buyers.
Goldman did not confirm the reports but said the committee is “aligned to see what best creates shareholder value”.
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