Yahoo has shortlisted close to 10 bidders in the auction for its core Internet assets, including Verizon Communications, with most offers involving cash rather than a combination with another company, according to people familiar with the matter.
The shortlist comprises mainly large companies and big private equity firms including TPG Capital, and excludes many small companies that proposed some kind of combination, such as privately held Yellow Pages owner YP, the people said this week.
The sources declined to divulge the full list.
Some bidders that did not make the shortlist because their first-round offers were not specific enough are still being kept close to the process by Yahoo's advisers, the people said. One of those bidders is Liberty Media Chairman John Malone, who has proposed a tax-efficient merger with one of the companies he controls, the people said.