Billionaire investor Warren Buffett joins Yahoo bidding: Report

Buffett won't be bidding on Yahoo alone, joining a consortium that includes Quicken Loans founder Dan Gilbert.

Billionaire investor Warren Buffett is backing a consortium bidding for Yahoo's core assets, according to Reuters.

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Buffett isn't bidding alone, the report says, backing a group that includes Quicken Loans founder Dan Gilbert.

The plans are confidential and haven't been confirmed.

It's not clear if Buffett plans to add Yahoo to Berkshire Hathaway, a holding company including ownership of Geico and IBM that Buffett has built to amass his $66 billion fortune.

Buffett said in an early-May interview with CNBC that "something has to change there" when speaking about Yahoo, but didn't offer any indication that he is pursuing a bid for the company.

Buffett and Co. will be joining in a bidding war for Yahoo's content and search assets that includes a list of ten private equity firms and technology companies. The parent company of the Yellow Pages is considering a bid, alongside TPG who wants the Yahoo advertising technology.

SEE ALSO: Yahoo's former interim CEO reportedly considering bid for core assets

Verizon is said to be the company to beat, front running as bidding entered its second round earlier this week. Verizon is looking to add Yahoo to its content and advertising arm that includes Aol.

Following years of stagnant growth, activist hedge fund Starboard pushed for a sale of Yahoo's core assets earlier this year -- and won. Starboard gained four board seats along the way.

Financial Times reports that some bidders in the first round were unhappy with the disorganization of the bidding process, indicating current CEO Marissa Mayer "was not very committed to selling the business."

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