Yahoo! Microsoft! deal! delayed!
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Posted in Financial News, 29th October 2009 10:14 GMT
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Yahoo! has told the Securities and Exchange Commission that it needs more time to sort out its search deal with Microsoft.
The two firms had promised investors everything would be done and dusted by 27 October.
The filing read: "Given the complex nature of the transaction, there remain some details to be finalized. The parties are working diligently on finalizing the agreements, have made good progress to date, and have agreed to execute the agreements as expeditiously as possible."
The two have given no new date for likely completion of the agreement.
There's no clue either as to what is delaying the agreement. It could be that the two are just being extra careful - after all this is a ten-year deal. Or it could be they're still working on satisfying regulators that there are no competition concerns. ®
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