Yahoo Inc rose in German trading after the Wall Street Journal said Microsoft Corp approached media companies about teaming up for a deal that would lead to a breakup of the Internet company.
Yahoo shares added 3.5 percent to the equivalent of US$20.90 as of 9:06am in Frankfurt from the close of US$20.20 in US trading on Tuesday. Microsoft talked with Time Warner Inc, News Corp and others, the newspaper said, citing people familiar with the negotiations.
The talks may be preliminary and may not lead to a deal with Yahoo, the newspaper said.
Yahoo ended talks about a combination with Microsoft last month.
After Microsoft’s initial bid in January, Yahoo explored alternatives, which included talks in February with Rupert Murdoch’s News Corp, a person with knowledge of the discussions said at the time.
Murdoch said in March he wouldn’t challenge Microsoft’s attempt to purchase Yahoo.
“I’m not surprised that these talks are going on,” said Victor Yip, a technology analyst at UOB-Kay Hian Ltd in Hong Kong. “Companies like Microsoft that are cash rich are always thinking about how they can increase market share or increase revenue. They obviously see some synergies there.”
Previously, the Redmond, Washington-based software company suggested an arrangement where it would buy Yahoo’s search operations, the Journal said.
Another company, such as Time Warner’s AOL or News Corp’s MySpace, would combine with the rest of Yahoo, the newspaper said. News Corp owns the Wall Street Journal.
Microsoft representatives also met investor Carl Icahn, who is seeking to gain control of Yahoo’s board, to encourage him in his proxy battle, the newspaper reported.
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