News
Ballmer still interested in Yahoo
Matt Grainger Oct 17 2008, 11:07am
Statement causes a spike in Yahoo share price
Microsoft CEO Steve Ballmer has suggested a continued interest in an advertising deal with search engine Yahoo.
Consequently Yahoo shares jumped by as much as 17 per cent, dropping down to 12 per cent after Microsoft issued a statement denying any interest.
After negotiations of a buyout collapsed in May, Yahoo shares have dropped to a five year low of $11.37 as major advertisers have significantly reduced budgets.
“Perhaps there will continue to remain opportunities to partner around search,” commented Ballmer at a Gartner conference.
“I think it would make sense economically for their shareholders and ours.”
When asked if Microsoft would be interested in a new buyout proposal as Yahoo shares are so low, Ballmer said: “It’s clear that Yahoo did not want to sell the company. It did not want to sell when we offered $33…they probably think it’s worth at least 33 today.”
Source: IT Pro
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