BEIJING, May 7 -- Yahoo Inc Chief Executive Officer
Jerry Yang, criticized by some investors for rejecting Microsoft Corp's $47.5
billion takeover bid, said he'll consider selling to the software company or
another bidder for the right price.
Yang will continue a strategy to boost Internet
advertising sales and is speaking with other companies about ways to increase
Yahoo's value. While Yahoo isn't for sale, the company would listen "should
somebody else come back someday and want to buy the company," he said after the
stock sank 15 percent.
"We've always felt the Yahoo platform has been
undervalued or underappreciated by the marketplace," Yang said. "Our most
important goal is to make sure we have a long-term competitive position."
Yang may find his job in jeopardy if his strategy
fails or he can't boost the stock in a few months. Investor Larry Haverty of
Gamco Investors Inc wants progress by October. Analyst Ross Sandler of RBC
Capital Markets said Yang will face scrutiny during the July annual meeting. An
idea to outsource more search advertising to Google Inc is already drawing
criticism for risking customer defections to the competition.
"They'll be calling for his head then if by the end
of the year there haven't been some substantial improvements," said analyst
Brian Bolan of Jackson Securities LLC in Chicago, who recommends selling Yahoo
shares.
"Certainly he should be concerned about his job, and
the shareholders are going to revolt at some point."
Yahoo, in Sunnyvale, California, passed up an offer
of $33 a share, saying the company is worth no less than $37, Microsoft CEO
Steve Ballmer said on Saturday.
Yahoo rose $1.10, or 4.5 percent, to $25.47 as of
11:25 am in Germany yesterday from its NASDAQ Stock Market close. The stock on
Monday fell the most in almost two years. Microsoft climbed 36 cents, or 1.2
percent, to $29.44 in Germany.
(Source: China Daily/Agencies)