Bill Gates not ruling out deals post-Yahoo

By : |May 7, 2008 0

SEOUL, SOUTH KOREA: Microsoft Corp does not rule out partnerships with other companies but has nothing imminent, Chairman Bill Gates said on Tuesday, after the software company pulled a $47.5 billion bid for Yahoo Inc.

Microsoft walked away from its bid to buy Yahoo on Saturday, after the Internet company turned down its $33-per-share offer.

"The key decisions on that will be made by Microsoft CEO Steve Ballmer, who took a look at Yahoo and decided that, on our own, he likes the stuff that we’re doing," Gates said in response to a reporter’s question about Microsoft’s plans.

"I wouldn’t rule out some partnerships but we don’t have anything imminent there," he added.

Gates’ comments were part of a media pool report. He spoke after meeting South Korean President Lee Myung-bak to discuss cooperation with South Korean companies.

Microsoft courted Yahoo to capitalize on the rapidly growing market for Internet advertising, which has long been served by Yahoo’s search, e-mail and web communities.

It is also trying to fend off the expansion of Google, which has made inroads into Microsoft’s home turf with a portfolio of web-based applications.

Microsoft now needs to convince investors it has a viable alternative to fix an online business that has racked up nine straight quarters of losses.

No Comments so fars

Jump into a conversation

No Comments Yet!

You can be the one to start a conversation.