Yahoo shares jump on Microsoft buyout rumour

By

Shares in Yahoo were up over 17 percent last week after rumours emerged of a takeover bid by Microsoft.

Yahoo shares jump on Microsoft buyout rumour
The New York Post has reported that Microsoft is in negotiations with Yahoo to buy the company for US$50bn. On current values Yahoo is capitalised at US$38bn.

Meanwhile The Wall Street Journal is reporting that discussions are in early stages for either a full takeover or a joint venture. Yahoo and Microsoft are second and third respectively in the internet search business after Google.

Microsoft is getting increasingly concerned about Google, and the purchase would enable it to challenge the search giant on more equal ground.

Microsoft is also concerned that Google Applications will cut into its lucrative Office business.

In keeping with company policy, a Microsoft spokesman said that the firm does not comment on rumours.
Got a news tip for our journalists? Share it with us anonymously here.
Copyright ©v3.co.uk
Tags:

Most Read Articles

TAFE NSW inks $34m Microsoft renewal

TAFE NSW inks $34m Microsoft renewal

Microsoft to cut about four percent of jobs amid hefty AI bets

Microsoft to cut about four percent of jobs amid hefty AI bets

Western Sydney University establishes dedicated data function

Western Sydney University establishes dedicated data function

ADHA readies market test of Accenture's $788m My Health Record deal

ADHA readies market test of Accenture's $788m My Health Record deal

Log In

  |  Forgot your password?