Microsoft gives Yahoo one last chance

Microsoft's chief financial officer Chris Liddell made the comments at a quarterly earnings conference call, adding that if no deal can be reached by the weekend, the firm will reconsider its offer.

A hostile takeover is still a possibility if Yahoo maintains its " unrealistic expectations" of a higher sale price, he added.

"As outlined in our recent letter to the Yahoo board, unless we made progress with Yahoo towards an agreement by this weekend, we will reconsider our alternatives, and provide updates as appropriate next week," said Liddell. "We have yet to see tangible evidence that our bid substantially undervalues [Yahoo]; in fact, we see the opposite."

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