Comex

Google pulls out of Yahoo deal

Google pulls out of Yahoo deal
Thursday 06 Nov 2008 [9:26]

It has been announced by Google that it is going to be abandoning its deal with rival Yahoo over search advertising. This comes after the US regulators made it clear it would attempt to block any tie-up between the two companies.

Google has stated that it does not want to become embroiled in a 'protracted legal battle' over the deal, because the Justice department objects to it.

Google's Senior Vice President, David Drummond, Corporate Development and Chief Legal Officer wrote on the companies official blog "…it's clear that government regulators and some advertisers continue to have concerns about the agreement"

"Pressing ahead risked not only a protracted legal battle but also damage to relationships with valued partners. That wouldn't have been in the long-term interests of Google or our users, so we have decided to end the agreement.

"We're of course disappointed that this deal won't be moving ahead. But we're not going to let the prospect of a lengthy legal battle distract us from our core mission.

"That would be like trying to drive down the road of innovation with the parking brake on. Google's continued success depends on staying focused on what we do best: creating useful products for our users and partners."

Yahoo, a company that is currently in dire straits following its decision to resist a take-over bid from Microsoft, which is also suffering from the current financial climate, is said to be disappointed that Google chose not to fight the battle through the courts.


Google pulls out of Yahoo deal
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Mon 18 Jun 2018 04:42:49