Under pressure from impatient investors, Yahoo took steps on Friday to handle the possible sale of parts of the struggling Internet company, Reuters reported.
Yahoo shares jumped after the company announced its board has formed a committee of independent directors to explore strategic alternatives. This signaled Yahoo is open to selling its core business including search, mail and news sites, rather than spin it off as previously planned.
Yahoo advisers started working on the sale process on Friday, people familiar with the matter said. The step followed more than three years of effort by CEO Marissa Mayer to turn around Yahoo, focusing on mobile apps and trying to boost advertising revenue.