Legendary investor Warren Buffett is backing a consortium bidding for Yahoo’s core internet assets, according to reports.

The head of Berkshire Hathaway is among a group that includes Dan Gilbert, the billionaire founder of Quicken Loans.

US news reports and the Financial Times said Mr Buffett co-signed a letter from the group and pledged money for a bid.

Verizon, private equity firms, and the owner of the Daily Mail have expressed an interest in Yahoo’s assets.

Last month the search company, hit by falling advertising and weakening investor confidence, shortlisted about 10 potential buyers.

News of Mr Buffett’s interest could improve Yahoo’s sale hopes. He admitted at Berkshire’s annual meeting last month that his investment firm had been slow to get involved the new tech industry.

Mr Buffett, whose firm has a stake in IBM, said in an interview on 2 May that Yahoo’s business had deteriorated significantly and that “something has to change there”. But he did not mention any potential bid.