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It appears that chances of Microsoft looking up at buying Yahoo can resurface given the company’s free-falling stock shares. Yahoo’s shareholder, Mithras Capital that holds 1.9 million shares of Yahoo plans at putting words into Microsoft’s ears after it had its bid to buy Yahoo had been turned down.

The current bid is set at $22, $9 dollars short of the $31 Microsoft had offered to Yahoo which it turned down in favor of a deal with Google. Yahoo since then has been rolling down the hill with stocks falling as low as $13 a share.

Mithras Capital partner, Mark Nelson has tipped out its plans of sending letters to both Microsoft and Yahoo regarding the deal. The chances that something positive will surface are slim as executives at Microsoft have already talked of chances for such a deal being negligible.

Mark Nelson talked of his concerns if Yahoo is to turn down any bid Microsoft makes, given the troubles over its deal with Google. He said:

It is imperative for the Yahoo board to embrace this proposal as the best outcome for long-suffering Yahoo shareholders.

Yahoo has a flood of problems and all of them reveal lack of proper planning and being pretty stubborn over certain issues. More importantly, there is a rift between shareholders, who are obviously concerned about losing all investment and the board that is trying hard to come out with plans to expand business and eventually  generate value for stock holders. Thus far everything is falling apart. One just hopes something comes to Yahoo’s rescue sooner than they hope and pray for.