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Yahoo is in advanced talks to sell AOL to Italian technology company Bending Spoons for about $1.4 billion, four sources familiar with the matter said, as the Apollo Global Management APO.N-backed firm sheds one of the most recognizable names of the early internet era.
The Milan-based app developer is in advanced talks to purchase the legacy media brand, the sources said. But they cautioned that a final agreement has not been signed and talks could still fall apart.
The sources requested anonymity to discuss confidential negotiations. Yahoo is owned by private equity firm Apollo Global Management, which acquired a 90% stake in the company from Verizon in 2021 in a $5 billion deal.
Bending Spoons and Apollo declined to comment. Yahoo did not respond to Reuters' request for comment.
