Yahoo! confirms Microsoft indeed tried to buy a stake in search engine business

Yahoo! confirms Microsoft indeed tried to buy a stake in search engine business

Yahoo Inc.’s chief executive officer Terry Semel reported confirmed in a statement that the software giants Microsoft indeed bid for a stake in the Yahoo’s search business.

However, the search engine company rejected the proposal from the company working hard on competing against the market leaders Google.

This statement practically confirms the several rumors floating in the market about Microsoft’s interest in Yahoo! to ultimately take on the domination of Google.

Semel was speaking at an event in New York organized by Syracuse University when he said that the two parties discussed “search, and Microsoft co-owning some of our search”. However, they refused to sell a part of their search businesses.

Microsoft has declined to comment on this statement made by the head of Yahoo!