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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:
 2,895

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 2,895
Copyright © 2012 SYS-CON Media, Inc. — All Rights Reserved.
Syndicated stories and blog feeds, all rights reserved by the author.

More Stories By Maureen O'Gara

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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