Yahoo’s beleaguered CEO Jerry Yang has confirmed that continuing negotiations with Microsoft are no longer about a merger, but admitted that he felt the Redmond company were walking away from a “tremendous amount of power.”
Speaking at the D conference Yang – who has found his position under threat since the brinkmanship over a price for Microsoft left the latter pulling out of a massive deal – confirmed Microsoft CEO Steve Ballmer’s statement that a take-over was not on the table.
"Microsoft is no longer interested in buying the company, and we are talking about other things,” said Yang.
“We definitely have to understand what they're proposing...they clearly have an interest in Yahoo, and we need to understand more."
Yahoo rejected an offer amounting to $47.5 billion, but when Microsoft decided against upping its bid, Yang and his board came under fire from their own shareholders.
Microsoft are now looking at collaborating with Yahoo, but Ballmer has already insisted that the money earmarked for the merger will now be spent elsewhere.