Thursday October 16, 07:32 PM
No interest in Yahoo: Microsoft
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WASHINGTON (AFP) - Microsoft (NASDAQ: MSFT - news) has no interest in acquiring Internet firm Yahoo (NASDAQ: YHOO - news) , a company spokesman said Tuesday, after the chief executive of the software giant was quoted as saying a deal still makes sense.
"Our position hasn't changed. Microsoft has no interest in acquiring Yahoo. There are no discussions between the companies," the Microsoft spokesman said.
The Redmond, Washington-based company issued the statement after Microsoft CEO Steve Ballmer indicated there still might be interest in Yahoo.
"I still think it makes sense for their shareholders and ours," the Internet news network CNET (NASDAQ: CNET - news) quoted Ballmer as saying at a conference in Orlando, Florida.
"We offered 33 bucks (a share for Yahoo) and it's 11 today," he said. "It's clear Yahoo didn't want to sell. They probably still think it's worth more than 33 dollars a share."
Yahoo's share price rose by 8.26 percent in New York following Ballmer's remarks, to 12.72 dollars.
Microsoft lost 0.80 percent to 22.44 dollars.
Microsoft on January 31 offered to buy Yahoo for 44.6 billion dollars in a half-cash, half-stock deal.
Microsoft walked away from negotiations May 3 after Yahoo rejected an offer it raised from 31 dollars to 33 dollars per share, which amounted to 47.5 billion dollars.
Microsoft wanted to buy Yahoo to better battle Google (NASDAQ: GOOG - news) , which claims the lion's share of the multibillion-dollar Internet search and advertising market.
After ending talks with Microsoft, Yahoo announced an alliance with Google to put the Internet search king's expertise to work pumping money from its floundering rival's online advertising.
The Yahoo-Google ad tie-up remains on hold pending approval of the US Justice Department, which has expressed antitrust concerns.
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