Twitter begins discussions to explore a sale: source

September 24, 2016 02:31

Twitter has initiated talks with several technology companies to explore selling itself, a person familiar with the matter said on Friday, signaling the start of what is likely to be a slow-rolling auction of the high-profile but money-losing social media company.

A sale of Twitter has been the subject of on-again, off-again rumors for many months as the company grapples with stagnant user growth, soft advertising sales and losses running at hundreds of millions of dollars a year.

The company's business struggles have come even as the 10-year-old service has evolved into a global source of news, entertainment and social commentary.

Analysts have long considered Alphabet's Google the most likely buyer for Twitter, and a source told Reuters that Salesforce.com is also in pursuit.

CNBC, citing anonymous sources, reported on Friday that Twitter is in talks with companies including Google and Salesforce and may receive a formal bid soon.

Twitter and Alphabet did not respond to a request for comment. Salesforce declined to comment.

Verizon, another company mentioned in media reports on Friday as a possible suitor, said it did not comment on M&A rumors but that it had not submitted a bid for the company.

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