Thursday, November 10, 2005

Yahoo backs off bidding for AOL stake

CNET "'After we learned what their proposed deal terms were, we passed and we've never looked back,' a Yahoo spokeswoman said on Thursday, confirming a report in the Wall Street Journal.
She denied that the company had made an offer for AOL but confirmed that Yahoo Chief Executive Terry Semel met with Time Warner chairman Richard Parsons in October.
The paper, citing a person familiar with the matter, said Time Warner signaled it wasn't interested in the terms Yahoo was willing to offer.
Time Warner is still in talks with Web search engine Google and software giant Microsoft and the Journal said the two companies are neck-and-neck in the talks, citing unnamed sources.
Time Warner is expected to choose one partner with which it will start exclusive negotiations as early as next week, the paper said."

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