Yahoo drops plans to buy Dailymotion - report

News Broadband France 1 MAY 2013
Yahoo drops plans to buy Dailymotion - report
Yahoo has dropped plans to pursue an acquisition of 75 percent of France Telecom's video website Dailymotion after French industry minister Arnaud Montebourg said he would block the sale of a majority stake, but was open to a 50/50 partnership, reports the Wall Street Journal, citing people briefed on a meeting with Yahoo COO Henrique de Castro and France Telecom CFO Gervais Pellisier. France Telecom, which is 27 percent state-owned, remains open to a deal if the US company wants to return to the negotiating table, one of the people said. Yahoo and Dailymotion declined to comment.

Categories:

Internet

Companies:

France Telecom,  Dailymotion,  Yahoo!

Countries:

France,  United States

Tags:

Wireline, Wireless, Consumer, M&A buyouts & divestments

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