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Report: Yahoo drops Dailymotion deal in face of French opposition |
May 01, 2013
Yahoo has scrapped plans to invest in French online video site Dailymotion, after the French government opposed the Internet giant acquiring a majority stake in the company, according to reports.French Industry Minister Arnaud Montebourg told Yahoo chief operating officer Henrique de Castro and France Telecom chief financial officer Gervais Pellissier during a meeting in April that he did not want a 75 percent stake in one of France's best startups to be sold to a U.S. Internet giant, The Wall Street Journal reported, citing people briefed on the meeting.The deal would have valued Dailymotion at US$300 million, according to the newspaper.Earlier, French news reports had also indicated that the French government was opposed to Yahoo acquiring a majority stake in the company.To read this article in full or to leave a comment, please click here
Link: http://www.pcworld.com/article/2036942/report-yahoo-drops-dailymotion-deal-in-face-of-french-opposition.html#tk.rss_all
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