Yahoo tells lawmakers Microsoft seeks "fire sale"

Nov 8, 2006
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A Yahoo Inc executive accused Microsoft Corp of teaming up with activist investor Carl Icahn to force a "fire sale" price for Yahoo's search business.

Yahoo General Counsel Michael Callahan, in testimony Tuesday to a U.S. congressional committee, defended his company's advertising partnership with Google Inc and said Yahoo would not be sold off piecemeal on terms that disadvantage Yahoo stockholders.

"Microsoft... has turned to activist shareholder Carl Icahn, in the apparent hope that this will force a fire sale of Yahoo's core strategic search business," Callahan said at a hearing before the Senate Judiciary Committee's antitrust subcommittee.

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