AOL has hired financial advisers to study a tie-up with Yahoo

On the other hand, according to close sources of Yahoo told Reuters that the firm does not seek or receive offers, and is not in talks with AOL.

AOL and Yahoo representatives were not immediately available for official comments.

Wall Street Journal notes that AOL has not yet submitted a proposal to Yahoo, but the group’s financial advisers had “ideas” for a possible acquisition.

Among the options considered there is the tie-up online operation between Yahoo and AOL and the sale of Yahoo’s Asian assets to recover a part of the capital for the benefit of shareholders.

AOL is currently studying alternatives that do not involve an agreement with Yahoo.