Yahoo to acquire a stake in IndiaTimes

February 21, 2005

Yahoo is apparently interested in acquiring a substantial stake in the IndiaTimes, India's largest web portal, reports The Financial Times.

Yahoo is reported to be partnering with Bennett Coleman, the publisher of The Times of India newspaper and other titles.

Bennet Coleman is apparently looking for a partner to develop its online services, a move which may lead to a US flotation.

Yahoo is being proactive by expanding in India where internet usage is growing fast. The Financial Times said that an executive with Bennett Coleman quoted them that the company hoped to come to a final decision within the next month.

�An internet initiative requires plenty of investment and since we hope to take our portal to the Nasdaq, we will require support,� he said.

Both companies Bennett Coleman and Yahoo declined to comment on the report to a follow up story with the BBC. Yahoo has a research & development operation in Bangalore and an embryonic partnership with Indian online business, rediff.com.

Source: Search Engine Journal

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