Microsoft CFO rules out another bid for Yahoo


Microsoft CFO rules out another bid for Yahoo

Antony Savvas

Microsoft chief financial officer Chris Liddell has described Yahoo as "a declining asset" and ruled out a complete takeover of the internet company, reports Reuters.

Speaking of Microsoft's failed attempt to buy Yahoo, Liddell said, "We took the view and we still take the view that Yahoo is essentially a declining asset. We made a credibly generous bid with a very high premium because we were looking for speed."

The company wanted a quick solution to make its own search engine business more attractive to users and build greater advertising revenues as a result.

Microsoft had a separate attempt to buy Yahoo's search engine business also rebuffed by the company.

Liddell was speaking to Wall Street analysts at the company's annual analyst meeting at its Redmond headquarters.

He added that the "chances of us buying Yahoo on a full acquisition basis are so small that they are essentially negligible."

That doesn't rule out another attempt by Microsoft to buy Yahoo's search business separately, but that is the most valuable part of the firm, and Yahoo has since signed a search engine deal with Google which shares ad revenues.

Yahoo this week posted lower profits for the second quarter.

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