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Mexican Court Rules Yahoo To Pay $2.7 Billion Over Breach Of Contract
10:29 am on Dec 3, 2012 (gmt 0)
Yahoo says it has been ordered to pay $2.7bn (£1.68bn) by a Mexican court.
The reported ruling follows a lawsuit stemming from allegations of breach of contract and lost profits related to a yellow pages listing service.
Yahoo said it "believes the plaintiffs' claims are without merit and will vigorously pursue all appeals".
Mexican Court Rules Yahoo To Pay $2.7 Billion Over Breach Of Contract [bbc.co.uk]
12:24 pm on Dec 3, 2012 (gmt 0)
I think lawyers need to find a new catch phrase besides "vigorously". Is there a link to the contract anywhere?
4:52 pm on Dec 3, 2012 (gmt 0)
Maybe a new planet would be a better option, Sarge. ;)
5:08 pm on Dec 3, 2012 (gmt 0)
That figure of $2.7 Billion seems out of proportion, imho. ianal
5:28 pm on Dec 3, 2012 (gmt 0)
It would seem that the Mexican courts are trying to make a point...
... perhaps pushing Yahoo to bail out of Mexico entirely?
... setting a precedent for "bigger fish"?
... setting the stage for someone else to pick up Yahoo's market share?
I live in Mexico, and while none of the above seem likely or logical, none would be out of character.
7:48 pm on Dec 3, 2012 (gmt 0)
Sure it's not 2.7bn pesos?
7:56 pm on Dec 3, 2012 (gmt 0)
I'm sure Marissa wishes that were the case. Unfortunately, no.
11:33 pm on Dec 3, 2012 (gmt 0)
Stock fell 1.4% after the news was released, that's about how worried investors are over "Yahoo de Mexico" and this "non-final" judgment.
8:31 pm on Dec 4, 2012 (gmt 0)
We should open up a betting pool on whether Mexico will get the money, some money, or no money.
I'm betting none. You?
8:59 pm on Dec 4, 2012 (gmt 0)
My guess: They'll appeal, then negotiate out of court for "an undisclosed amount"
Something in the range of 100MM is a lot more likely