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Google confirms $1bn stake in AOL
Google has being busy lately. LR has reported earlier how Google has showed interest in Opera. Also we reported how Microsoft and Google are going to work together on a internet research lab. Now the BBC is reporting that Google has invested $1bn in AOL. This news my mean Microsoft's plans to get a piece of AOL is now a lost cause.
Online search engine Google has confirmed it will invest $1bn to take a 5% stake in Time Warner's AOL unit as part of a major strategic alliance. The deal, which follows intense negotiations between the two US internet giants, values the troubled AOL unit at $20bn. AOL is currently Google's biggest customer. During the first nine months of the year, it accounted for about $429m, or 10%, of Google's revenue.
Posted by | Wed, Dec 21, 2005 - 04:46 AM
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