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With the great amount of discontent lurking amongst the Department of Justice and the many eyes that think of the Yahoo/Google deal to be bad for competition, the two have decided to delay their controversial partnership.
With this trouble would speed itself much faster towards Yahoo and bring its stocks further down. The stocks currently choke at $15.58 a share and the last bit of hope that keeps them floating like a corpse, with the delay the stocks are bound to drop further. Spokesman for Yahoo in his statement said:
The companies have agreed to a brief delay in implementing this agreement to continue our ongoing discussions with the Department of Justice. We have had discussions with regulators and look forward to responding to their questions about this agreement.
The two had already settled for delaying the idea of implementing the deal for 90 days and let the Department of Justice to look upon the matter. But given the growing concerns the two have postponed the implementing it once again. Google’s spokesman said:
When we announced our advertising agreement with Yahoo! in June we agreed to delay its implementation until October to give regulators time to look at the details. As we are still in conversation with the Department of Justice we have agreed to a brief delay in implementing the agreement while those discussions continue.
There is not much the two can do save for giving in to what has been asked of them, despite Google being stern at rolling out with the deal no matter what. With massive criticism making its way to hammer the partnership, the only one who is set to suffer most incase the deal sees a setback is Yahoo, who has all hopes dangling upon this deal.
Eric Schmidt had earlier mentioned in response to the delay stating that time is money in their business. What everyone’s missing here is that time is the only thing Yahoo doesn’t have and if this drama goes on further we may soon have Yahoo stocks selling as cheap as cotton candy (just my pessimistic guess).
