Feeds

Yahoo! leaves! London!

But talks to Microsoft!

Website security in corporate America

Yahoo! is moving its European headquarters from London to Switzerland and is telling senior staff to pack their bags or leave the company.

Yahoo! is moving to Rolle, near Geneva, Switzerland, the Financial Times reports.

The main reason is to reduce its corporate tax bill. Yahoo!'s operational and product managers got an email yesterday telling them of the move. The company has not yet decided how many staff will move, but 50 senior staff will go by the end of the year. Yahoo! has some 700 staff in the UK.

The 18 month process, dubbed "Operation Yodel", may of course get overtaken by events if the Microsoft takeover is successful.

A spokeswoman for Yahoo! told the Register: "We have begun a programme to relocate to Switzerland which will take 18 months. We are not confirming numbers yet but are committed to keeping a presence in London too."

Meanwhile, in the US there were the first signs of a thaw in relations with Microsoft as the two companies reportedly had preliminary discussions about the merger. Yahoo! was previously refusing to discuss what it considered an unwelcome takeover bid. The talks were mostly Microsoft staff laying out future plans for the combined company, according to the Wall Street Journal.

Talks are made more significant because Yahoo! reports its quarterly earnings on 22 April and any failure to hit targets is likely to hit its share price and, therefore, make the takeover bid more tempting for shareholders. Microsoft offered $44.6bn for the company or $31 per share.

Other would-be Yahoo! suitors like Time Warner and News Corporation have made clear in recent days their lack of interest in the company. Rupert Murdoch said he was not interested in getting into a bidding war with Microsoft and is anyway busy integrating Dow Jones. TimeWarner yesterday bought Bebo. ®

Reducing the cost and complexity of web vulnerability management

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Israeli spies rebel over mass-snooping on innocent Palestinians
'Disciplinary treatment will be sharp and clear' vow spy-chiefs
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Huawei ditches new Windows Phone mobe plans, blames poor sales
Giganto mobe firm slams door shut on Microsoft. OH DEAR
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Show us your Five-Eyes SECRETS says Privacy International
Refusal to disclose GCHQ canteen menus and prices triggers Euro Human Rights Court action
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.