Yahoo! continues talks with Microsoft

Yahoo!’s chief executive has revealed that the company is still in talks with Microsoft over a potential deal to sell part of the company.

Speaking at Dow Jones’ All Things D conference, Carol Bartz said: “The other party has to have a boatload of money and the right technology and give us the right data and so forth. It’s that simple.”

However, Bartz insisted that a potential deal is not close as there is still work to be done on Yahoo!, in terms of improving the search company’s performance.

Following the publication of Yahoo!’s financial results last month, Bartz, who was appointed to the chief exec role earlier this year, warned that the company is not “immune to the ongoing economic downturn”.

Globally, Yahoo! recorded revenues of $1.58 billion in Q1 2009, which it said is an 8% decline on Q1 2008, excluding the impact of currency rate fluctuations.

Last October, Yahoo! was forced to announce plans to cut around a tenth of its workforce.