Warren Buffet is backing a consortium of investors – including Quicken Loans’ founder Dan Gilbert – who are bidding for Yahoo’s Internet assets, according to Reuters.
Several companies are running after Yahoo’s declining business. Verizon Inc. has been ahead of the curve in the acquisition of web business after it acquired AOL for $4.4 billion last year.
The backed companies are said to enter the second round of talks with Yahoo.
If the deal goes through, Warrant Buffet will look to finance it. However, It is too early to say whether the bid will be successful or not.
Reports suggest that Dan Gilbert will use Quicken Loans to finance part of the deal have not been confirmed yet.
Both the parties have refused to comment on the matter.