Microsoft exit hits Yahoo shares

by Sanjay Jha | May 5, 2008 at 03:11 am

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Withdrawal of Microsoft bid has hit Yahoo badly. In the opening hours of trading at German bourses.

Yahoo's German-listed shares plunged 17% after software giant Microsoft dropped its three-month-old bid to buy the internet firm.
Analysts expect Yahoo's US shares to fall by a similar margin when Wall Street begins trading later.
The deal collapsed recently because the two sides could not agree on an acceptable sale price.
Microsoft boss Steve Ballmer formally withdrew the offer in a letter this weekend to Yahoo's head, Jerry Yang.