Yahoo shares started losing as Microsoft exit
May.05, 2008 in
Microsoft, Technology, Yahoo!
Yahoo’s German-listed shares have plunged 17% after software giant Microsoft dropped its three-month-old bid to buy the internet firm.
In pre-market US trading, Yahoo shares fell 22% and analysts expect them to drop by a similar margin when Wall Street opens for business later.
The deal collapsed after the two sides could not agree on the sale price. Microsoft boss Steve Ballmer formally withdrew the offer in a letter this weekend to Yahoo’s head, Jerry Yang.
In Frankfurt, Yahoo’s shares were down 17.56% at 14.93 euros ($23.17) in early trading.
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