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'We have everything, we don't need Yahoo'

Y for Yes? No, says Microsoft, so it looks like a possible deal with Yahoo is off

Microsoft doesn't need to buy web portal Yahoo to beef up its presence in the online advertising market.

The software giant already has everything it needs to grow bigger on its own accord, according to chief advertising strategist, Yusuf Mehdi.

The rumours on whether Microsoft could be about to buy Yahoo have been circulating for a few weeks now. But Mehdi's statement at the Goldman Sachs annual internet conference should ensure that all speculation about a possible deal is killed off.

"Yahoo has a great business. Kudos to them, but we're bigger globally," Mehdi told investors. "We have over half a billion users, and we believe we have all the major pieces in order to achieve our goal."

He did not rule out buying smaller companies to get better in the fight against Google of a piece of the ever-growing market for online advertising.