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Anyhow, AOL has valid contracts with Overture. AOL.France has just started out with Exalead on board.
OTOH the press realeases say Google will be shown to AOLs 34 Mill members worldwide, which would include the 5,5 Mill european members.
So one possible scenario would be for AOL to show Overture plus Adwords on top of Google results for international searches, while local searches stay as they are.