Canada, Australia Give Thumbs Up To Yahoo-Microsoft Pact
Of DOW JONES NEWSWIRES
SAN FRANCISCO (Dow Jones)-Yahoo Inc. (YHOO) said Tuesday that Australian and Canadian regulators have given a thumbs up to the Internet giant's proposed search pact with Microsoft Corp. (MSFT)
The Sunnyvale, Calif.-based Web company said its proposed agreement with Microsoft is still under review in other jurisdictions, but the company remains hopeful the deal will close in early 2010.
"Microsoft and Yahoo have been notified that Australian and Canadian authorities have separately concluded their reviews and have no objections to our proposed search agreement," the companies said in a statement.
The partnership, under which Microsoft's Bing technology would power searches on Yahoo Web pages, would shrink the search market from three big players to two. The deal is under review by antitrust regulators at the U.S. Justice Department.
Yahoo has said the deal would enable it to significantly cut costs so it could focus on its display advertising business. Microsoft believes the deal will provide it with the market share it needs to challenge search leader Google Inc. (GOOG)
Shares in Yahoo fell 1.4% to $15.24 and Microsoft stock closed down 0.1% at $29.91.
-By Scott Morrison; Dow Jones Newswires; 415-765-6118; scott.morrison@dowjones.com
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Publié le 25 novembre 2009 Copyright © 2009 Dowjones
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