World Economy

Yahoo Launches Auction Process

Yahoo Launches Auction ProcessYahoo Launches Auction Process

Yahoo Inc officially launched the sale of its core business, a move seen as a positive step for frustrated investors but not enough to keep an activist hedge fund from pursuing a proxy fight against the struggling Internet company, Reuters reported. The launch of the auction process, a move activist hedge fund Starboard Value and other shareholders have pushed since late last year, showed the company was moving another step closer to selling its core business, which includes search, mail and news sites, rather than spin it off as previously planned.