Verizon Communications is nearing a deal to buy
Yahoo
, beating out rival bidders for the iconic web pioneer, people familiar with the matter said.

Verizon is discussing a price close to $5 billion for Yahoo’s core internet business, one of the people said and the deal doesn’t include the company’s patents at this stage.

While other assets including
Yahoo’s
real estate were also on the block, it could not immediately be learned if they are part of the deal. The companies may be ready to announce the deal in the coming days, but the agreement hasn’t been finalized and may still fall apart, the people said, asking not to be named.

“The buyer that could make the most out of these assets has apparently won,” said Roger Entner, an analyst with Recon Analytics.

Verizon hires banks for debut cell phone ABS

Mobile phone giant Verizon has mandated banks for the first ever secularisation to be backed by cell phone contracts in the US, one of the banks managing the deal told IFR on Tuesday.

A representative for Verizon declined to comment. A representative for
Yaho
o couldn’t immediately be reached outside of regular business hours.

AT&T and Quicken Loans founder Dan Gilbert, as well as buyout firms Vector Capital Management and TPG we re also active in the bidding process until the end.

Yahoo has millions of users, a collection of websites including Flickr,
Tumblr
and Yahoo Finance and Sports and some useful digital-ad tech. Together with AOL, the new Yahoo under Verizon may have a better chance of competing in a digital ad market dominated by Google and Facebook.