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Microsoft withdraws offer for Yahoo
Latest Updated at 2008-May-4 09:51:15
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Microsoft announced an unexpected 44.6-billion-dollar bid for Yahoo Friday, as a latest move by the software giant to challenge Google's dominance of the lucrative online search and advertising markets.(Xinhua/Reuters File Photo)

The Yahoo headquarters in Sunnyvale, California.(Xinhua/AFP File Photo)

Microsoft has withdrawn its offer for Yahoo, Microsoft CEO Steve Ballmer said on Saturday.

"After careful consideration, we believe the economics demanded by Yahoo! do not make sense for us, and it is in the best interests of Microsoft stockholders, employees and other stakeholders to withdraw our proposal," Ballmer said in a letter to Yahoo Chief Executive Jerry Yang.

Editor: Yan

By: Source: China View website

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