Not interested
In a short and not particularly sweet statement, Microsoft poured water on speculation that it was still sniffing around internet giant Yahoo! with a view to resurrecting the bid to acquire it.
"Our position hasn't changed. Microsoft has no interest in acquiring Yahoo!; there are no discussions between the companies," said an official statement on Microsoft's press site.
Reportedly CEO Steve Ballmer said yesterday that a web search deal between Microsoft and Yahoo! still makes economic sense.
Maybe investors desperate for a decent opportunity in the turbulent market took this as a hint and that's why Microsoft moved quickly to clarify its stance.
Yahoo! shares shot up over ten percent in morning trading yesterday and then stabilised at around $13. Microsoft offered to pay $33 per share last May. Yahoo! shareholders must feel gutted.
