AT&T Latest Bidder for Yahoo's Internet Business (Report)

Executives decided in recent weeks to join the fray, according to Bloomberg.

AT&T has made a bid for Yahoo’s internet business, according to a report from Bloomberg citing people familiar with the matter.

An AT&T spokesman declined to comment on the report.

The nation’s second-largest wireless carrier had originally decided against joining in the bidding for Yahoo’s assets, according to the report. However, AT&T executives decided in recent weeks to join the fray in which larger rival Verizon Communications is seen as the most likely candidate to takeover Yahoo.

During an investor's conference on Tuesday, Yahoo CFO Ken Goldman said the auction process is going "very, very well."

Shares of Yahoo were down 3.2% at $36.34 midday Wednesday despite news of the latest bidder.