Report: RadioShack exploring sale

New York City RadioShack is exploring strategic alternatives that include a share buyback or a possible sale of the company that could net more than $3 billion, the New York Post said.

Investment bankers have already begun pitching their private-equity clients about a leveraged buyout of RadioShack, informing them of the retailer's willingness to sell, the newspaper said.

Another option for RadioShack would be a merger with Best Buy Co., according to the report.

The company declined to comment in the report.