The Chief Financial Officer of Microsoft, Chirs Liddel told a Citibank conference in New York today that the chances of Microsoft buying Yahoo are “negligible.”
“You never say never, I can never say that, but it’s so close to negligible,” he said.
Liddell made similar comments in July, when he described Yahoo as a “declining asset.”
Mr. Liddell looks correct.
Shares of Yahoo which are currently under $18 a share, their lowest level since September 2003.
Shares of Yahoo have fallen 24% this year.
In July share were trading well over $20 and or course Yahoo turned down Microsoft first offer of $31 a share and its subsequent offer of $31.
“We continue to value Yahoo as a declining asset,” Liddell said. “At some stage it just makes no sense anymore. So you never say never about these acquisitions, but the time came and went.”
Shares of Microsoft, are also down, 26% this year.
Looks like a Lose-Lose situation to me.
Looks like a Lose-Lose situation that is for SURE