Australia, Canada Conclude Review
SUNNYVALE, CA and REDMOND, WA — 24 November 2009 — The Australian Competition and Consumer Commission has confirmed that it has completed its review of the Microsoft-Yahoo! agreement and has no objections to the deal. Additionally, both companies have been notified by the Canadian Competition Bureau that it also has finished its review and similarly raised no concerns.
Both agencies noted that their clearance of the agreement is conditioned on submission of the final definitive agreement between the two companies.
The companies issued the following joint statement regarding the decisions:
“Microsoft and Yahoo! have been notified that Australian and Canadian authorities have separately concluded their reviews and have no objections to our proposed search agreement. We continue to believe that this deal will create a true, competitive alternative in the marketplace that will benefit consumers, advertisers and publishers. We remain hopeful that the agreement will close in early 2010.”
Under terms of the letter agreement, the deal requires regulatory approval in both the United States and Europe before it can be implemented. |
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