Yahoo shares rise on reports of sale

Shares of Yahoo traded more than 5% higher yesterday after reports that the company could sell its core internet business, which chief executive Marissa Mayer has failed to turn around after more than three years on the job.

Yahoo’s board will weigh a sale of the business, which e analysts said could be worth in the neighbourhood of $4bn (€3.77bn), at a board meeting which started late Wednesday, a source familiar with the matter told Reuters.

Analysts have put little value on the business, with almost all of Yahoo’s market capitalisation of about $34bn ascribed to its stakes in Chinese e-commerce company Alibaba Holding Group and Yahoo Japan.