Monday, May 17, 2004
Yahoo says it will sell Google stake eventually: "Yahoo to sell Google stake eventually
Goal is $5 billion in sales, analysts and investors told
By Bambi Francisco, CBS.MarketWatch.com
SAN FRANCISCO (CBS.MW) - Yahoo may be flush with some additional dot-com cash.
The online media company said its stake in rival Google is worth "several hundred million dollars" and that it would seek to liquidate that investment in due time. Yahoo didn't give a date, but just the intention to sell its shares may be an overhang for Google's upcoming IPO.
Yahoo (YHOO: news, chart, profile) has a stake in Google from the investment it made during the boom years. At the time, sources put the stake at 5 percent of Google. A Yahoo spokeswoman, without confirming the initial percentage of its investment, says the stake has subsequently been diluted.
Google's valuation has been estimated by a couple of analysts at $35 billion..."
Goal is $5 billion in sales, analysts and investors told
By Bambi Francisco, CBS.MarketWatch.com
SAN FRANCISCO (CBS.MW) - Yahoo may be flush with some additional dot-com cash.
The online media company said its stake in rival Google is worth "several hundred million dollars" and that it would seek to liquidate that investment in due time. Yahoo didn't give a date, but just the intention to sell its shares may be an overhang for Google's upcoming IPO.
Yahoo (YHOO: news, chart, profile) has a stake in Google from the investment it made during the boom years. At the time, sources put the stake at 5 percent of Google. A Yahoo spokeswoman, without confirming the initial percentage of its investment, says the stake has subsequently been diluted.
Google's valuation has been estimated by a couple of analysts at $35 billion..."
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