Private equity firms Blackstone Group and Bain Capital are preparing a bid for all of Yahoo with Asian partners in a deal that could value the web portal at about $25bn (£16bn).

The plan follows smaller bids made by consortia including Microsoft tabled earlier this week which valued the web portal at just $20bn. The Microsoft bid was the lower of two.

New Yahoo bid ups price to $25bnPrivate equity firms Blackstone Group and Bain Capital reported to be working with Alibaba to make full bid for web portal that would value above earlier bids by Microsoft and others