Jerry Yang, the chief executive of Yahoo, felt let down by Google's decision to pull out of an advertising agreement between the two internet rivals.
The $800m (£500m) deal, which would have enabled Google to sell advertising on some parts of Yahoo's search engine listings, had been subject to a formal investigation by the US department of justice over potential monopoly concerns. Google decided on Wednesday that it would pull the plug on the agreement.
"It was disappointing to us that they didn't want to defend this deal," said Yang, speaking at the Web 2.0 summit in San Francisco. "We were going through a process with the department of justice to get them to understand how this was a good deal."
Yang insisted that the deal - if it had gone through - would have allowed both companies to benefit from exploiting each other's weaknesses, rather than increase Google's dominance in the search engine market. "It's incredibly important to participate and compete for the search marketplace ... in fact, we are doing better in search today than when this whole thing started," he said. "I really thought that the government, in this case, does not understand our industry and has a market definition that is too narrow."
Source : The Gaurdian
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