NEW YORK (BLOOMBERG) - Verizon Communications is nearing a deal to buy Yahoo, beating out rival bidders, people familiar with the matter said.

The companies may be ready to announce the deal in the coming days, the people said, asking not to be named because the deliberations are private.

The two companies are in one-on-one discussions, one of the people said. The deal hasn't been finalized and may still fall apart, they said.

A representative for Verizon declined to comment. A representative for Sunnyvale, California-based Yahoo couldn't immediately be reached outside of regular business hours.