Yahoo! started the sale of its Internet business

The Board of Directors of Yahoo! hired three investment Bank — Goldman Sachs, JP Morgan and PJT Partners to find buyers for their main asset — the Internet business. This was announced on Friday, February 19, writes The Guardian.

In addition, inside the Council formed an ad hoc Committee that will study options for strategic development of the company. He will consider offers to purchase only as an Internet business Yahoo! and its parts.

So guide Yahoo! responded to pressure from investors who insisted on selling an Internet business in connection with the continuing fall in the value of the company’s shares.

Two weeks ago the company said it will consider various strategic alternatives for business development.

Earlier it became known that the CEO of Yahoo! Marissa Mayer has begun a process of mass dismissals of employees (about 15%) and the closure of several offices in Dubai, Mexico city, Buenos Aires, Madrid and Milan. She is confident that these changes will increase the profitability of your company and will allow Yahoo! to focus on mobile apps, and other potentially profitable projects.

Mayer also wants to build an Internet business Yahoo! a new company, separating it from Yahoo Japan and a stake in Alibaba Group. The cost shares of Yahoo! in Alibaba is estimated at $26 billion, and the entire market value of Yahoo! at $28 billion.

Yahoo! yet did not name any potential buyers, but The Guardian, citing the analysts wrote that the company may be interested in AT&T, Comcast, and private investment funds.

In addition, in early February, the American telecommunication company Verizon Communications has instructed the head of his subsidiary of AOL Tim Armstrong to explore the possibility of asset purchases Yahoo!

In recent years the financial performance of Yahoo! significantly deteriorated. Net sales decreased from $5.4 billion in 2008 to $4 billion in 2015. Profit for the first nine months of 2015 decreased over the same period last year 90 times and amounted to $81 million.