SAN FRANCISCO (Reuters) - Yahoo Inc YHOO.O is exploring the sale of $1 billion to $3 billion (£705.8 million - £2.1 billion) of patents, property and other “non-core assets,” its chief financial officer said on Thursday.
Yahoo CFO Ken Goldman told the Morgan Stanley Technology, Media and Telecom Conference 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.
Goldman said patents, land, property and “non-core units or businesses” are all on the table for potential sale, and the company has sold or licensed more than $600 million in patents over the last three years.
Yahoo faces increasing pressure from shareholders and investors to sell its core business instead of going through a spinoff that would separate the company from its multibillion-dollar stakes in Yahoo Japan and Alibaba Group Holding Ltd (BABA.N).
Goldman did not confirm the reports but said the committee is “aligned to see what best creates shareholder value.”
Editing by Stephen R. Trousdale and Marguerita Choy