Yahoo exploring sale of $1 billion-$3 billion in 'non-core assets': CFO
By Deborah M. Todd
SAN FRANCISCO (Reuters) - Yahoo Inc (YHOO.O: Quote) is exploring the sale of $1 billion to $3 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: Quote).
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)
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