Microsoft looks for partners for Yahoo! takeover
The bell has sounded for the next round in the fight for Yahoo! and internet hegemony. According to a press report, US software vendor Microsoft plans to make a renewed attempt to take over internet group Yahoo! in conjunction with a media company. The Wall Street Journal, citing informed sources, says that Microsoft has already held talks with Time Warner and News Corp..
A joint takeover with a company such as Time Warner or News Corp would result in the breakup of Yahoo!, with Microsoft getting Yahoo!'s search engine business. According to the newspaper, the remainder of its internet activities could go to the partner company.
The paper's informed sources say the talks are preliminary in nature. Nonetheless, Steve Ballmer is said to have presented a "new idea", which involved other partners, to Yahoo! chairman Roy Bostock, two weeks ago. A meeting between Microsoft and Yahoo! arranged for Monday is reported to have been cancelled by the software giant. Yahoo! is said to have taken this as a sign that Microsoft's search for partners has been unsuccessful.
The Wall Street Journal also writes that Microsoft representatives have met with investor Carl Icahn, who owns Yahoo! shares and is putting up candidates for the Yahoo! board at its forthcoming AGM. Microsoft's representatives are said to have encouraged him to keep on his course of confrontation to help ensure that Yahoo! is prepared to enter into a transaction which will lift its share price.
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