AOL-Yahoo to join hands soon?

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New York, Sep 10: Tim Armstrong, AOL Chief Executive approached private equity firms to gauge interest in a deal with Yahoo and make Armstrong the head of the company, according to a report in Bloomberg.

A source close to Yahoo said that the company had no interest in tying up with AOL, revealed a CNBC report.

The shares of AOL closed down by 5.35 percent at $14.72 while Yahoo advanced slowly by 0.3 percent to $14.48.

However both AOL and Yahoo refused to comment.

Clay Moran, benchmark analyst also said that AOL investors were upset that Yahoo was not looking forward to a deal.

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