OREANDA-NEWS. It's no secret that Yahoo has been on the hunt for a buyer for some time now. Companies and individuals as diverse as the UK's Daily Mail and US billion Warren Buffet have all been mooted as potential purchasers.

Verizon is the current favourite, but the US-based communications carrier might pay just $2 billion to $3 billion if it ends up sealing the deal. According to the Wall Street Journal, "people familiar with the matter" suggest that previous valuations of between $4 billion and $8 billion are now unlikely.

Bidders have reportedly lowered the potential price after a series of sale presentations by Yahoo Chief Executive Marissa Mayer at the company headquarters.

The first week of June is the deadline for the first round of bids. Yahoo was contacted for comment but had not replied at the time of publication.