Yahoo postpones shareholder meeting

YAHOO SEEMS TO BE in turmoil and has postponed its shareholder meeting for a second time in a bid to buy more time from a potential revolt against its board for rejecting Microsoft's offer to buy the search engine outfit.

Edward Kozel, a board member, is resigning. Kozel said he planned to step down in February, but stayed on after Microsoft made its offer in January.

Yahoo put off its shareholder meeting once so it could consider an unsolicited buyout offer from Vole. The date was supposed to be July 3, however in a Securities and Exchange filing it said that the meeting will happen at the 'end of July'.

The reason given is that that billionaire investor Carl Icahn has nominated alternate candidates to Yahoo's existing board of directors. µ

L'Inq
AP