Microsoft needs Yahoo - investor
2008-06-11 09:10
New York - Carl Icahn said on Tuesday that Microsoft Corp "can't compete" over the next five years if it doesn't acquire Yahoo Inc.
He said Microsoft would be out of the game if it doesn't have a strong internet search engine to compete with Google.
Speaking at the annual New York Financial Writers Association Awards Dinner at the Marriott Marquis in midtown Manhattan, Icahn said eventually, "there will be a deal here, I'm hoping".
Icahn, who owns 10 million shares of Yahoo, has been trying to get the company to rethink its decision not to sell to Microsoft.
The hedge fund manager also accused Yahoo of "sinking to a new low" with a severance plan that's "a travesty".
In response to a question from the audience, Icahn declined to comment on whether he is in contact with Microsoft.
- Dow Jones