Verizon Communications would pursue an acquisition of Yahoo if the deal added up in terms of strategy and shareholder value, said CFO Fran Shammo (pictured).

“If we see there is a strategic fit and it makes sense for our shareholders and we can return value, I mean we’ll look at it, but at this point it’s way too premature to talk about that one… All I can say is we don’t know what Yahoo’s board will decide. It’s too early to know,” said the finance chief.

Shammo was speaking at a UBS conference and his comments were reported by a number of outlets.

Yahoo’s board is thought to be mulling the sale of its core business, having struggled to make a turnaround under CEO Marissa Mayer. The fallen internet giant’s businesses include online content such as sports and news coverage as well as advertising technology.

Earlier this year, Verizon spent $4.4 billion on acquiring AOL, another digital content and advertising platform, and it is pushing Go90, a mobile-first, advertising-driven video service targeted at millennials. The service launched this autumn.

Following its acquisition by Verizon, AOL spent $238 million (including debt) on acquiring Millennial Media, another mobile advertising firm.