Verizon Communications reportedly exploring Yahoo deal

Verizon Communications has given Tim Armstrong, chief executive officer of its AOL unit, a leading role in exploring a possible bid for Yahoo assets, according to a person with knowledge of the situation.

Late last week, and as far back as December, Verizon has said “yes” when asked whether it was interested in purchasing some or all of the struggling company.

The largest phone carrier in the US has not hired bankers to conduct an offer and there have been no formal talks, according to the person, who asked not to be identified because Verizon’s plans have not been made public.