Statement causes a spike in Yahoo share price

Ballmer still interested in Yahoo

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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