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Yahoo said on Wednesday that deal talks are ongoing with Microsoft as the company resisted an attack by billionaire critic Carl Icahn, who called its recent actions "deceitful."
Yahoo President Susan Decker trumpeted new ad partnerships with Wal-Mart Stores and others as Icahn, an activist investor, stepped up pressure on Yahoo over its rebuff of Microsoft's $47.5 billion (24.3 billion pound) buyout offer.
She said some form of deal with Microsoft could still come about, sending Yahoo shares up 2.7 percent for the day, despite Icahn's later blistering attack on Chief Executive Jerry Yang's leadership at Yahoo.
Yahoo and Microsoft Still Talking [uk.reuters.com]
Carl Icahn's letter to Yahoo [webmasterworld.com]