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Article

Yahoo Hit with Multi-Billion Dollar Mexican Judgment

It’s apparently not a final decision
By Maureen O'Gara
Article Rating:
December 10, 2012 07:00 AM EST
Reads:
 2,891

A Mexican court told Yahoo Friday that it owes $2.7 billion in a breach of contract, breach of promise and lost profits suit arising from contracts related to a Yellow Pages telephone listings service.

It's apparently not a final decision.

The verdict was issued by the 49th Civil Court of the Federal District of Mexico City in a case filed by Worldwide Directories SA de CV and Ideas Interactivas SA de CV.

Yahoo contends that the plaintiffs' claims are without merit and says it will appeal.

Yahoo has a market value of $22.2 billion and cash on hand worth roughly $8.41 billion as of September 30. Bloomberg figures the assessment is more the tip.

Published December 10, 2012 – Reads 2,891
Copyright © 2012 SYS-CON Media, Inc. — All Rights Reserved.
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Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

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