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Microsoft announced Sunday afternoon, he issued another proposal in which Yahoo calls for a transaction with Yahoo, but would not require the acquisition of all assets of Yahoo.

The announcement comes just days after billionaire investor Carl Icahn launched a proxy fight to overthrow Yahoo current board the Internet search pioneer of pre-July 3 Annual general meeting of shareholders.

Icahn, a large Yahoo stakeholders, to put pressure on the research undertaken to restart talks with Microsoft after the software giant withdrew its bid unsolicited $ 33 action on May 3.

While Microsoft has repeatedly said he has "changed" after withdrawing its offer Yahoo, the software giant still faces the question of how it would strengthen its Internet operations to compete with its arch-rival Google. And Yahoo, who told News.com sources, considered the ball to Microsoft in court because he is the one to withdraw from the agreement, to the anger of its main shareholders after these talks have not addressed.

"Microsoft is reviewing and Yahoo raised with a solution that would involve a transaction with Yahoo but not an acquisition of all of Yahoo, Microsoft said in a statement.

"Microsoft does not propose to make a new offer to acquire all of Yahoo at the moment, but reserves the right to review than others depending on the development of relations and discussions that take place May with Yahoo or discussions with the shareholders of Yahoo or Microsoft or other third parties, "the software giant said.

Microsoft noted that there is no guarantee there May come from these discussions.

Microsoft declined to comment beyond what he published in his statement, a spokesman for Microsoft. Yahoo declined to comment at this time, a spokesman for Yahoo.

But according to reports in The New York Times and the Wall Street Journal, Microsoft has proposed an arrangement in which Microsoft should sell advertisements to be displayed alongside search results Yahoo, in an effort to combat competition from Google.

The timing of Microsoft's proposal is that Yahoo is preparing to announce a transaction with Google, as early as next week, which calls for Yahoo to use Google search ads.

Such a market has weighed heavily on Microsoft, who said when he withdrew his bid to forgo a hostile takeover of Yahoo in the hope that it would not encourage the research on the Internet pioneer to go running into the arms of Google.

A scenario worth keeping an eye on is whether Yahoo is moving forward with its Google partnership. If Yahoo hooks with Google, Microsoft, at this stage, consider May he had nothing to lose by strengthening Icahn's proxy fight by making a new offer to acquire all shares of Yahoo. This transfer would give Icahn's proxy fight real teeth, that investors know that if they vote for the Icahn slate, they would in essence be a vote for merging companies.

To reiterate Microsoft's statement Sunday: "Microsoft does not propose to make a new offer to acquire all of Yahoo at the moment, but reserves the right to review than others depending on the evolution of relations and discussions which took place May with Yahoo! Or discussions with the shareholders of Yahoo. "

Despite these recent developments in the resumption of talks between the companies, Icahn and Microsoft have had no contact, according to people familiar with the talks.

If Microsoft and Yahoo strike a deal to slice and dice the pioneering research on the Internet, Microsoft would most likely be interested in finding Yahoo and advertising of bids, since that is where the Redmond giant has trouble to take the initiative.

In addressing the software giant as regards the declaration of Yahoo and its future plans, Kevin Johnson, Windows and Windows Live-in-chief, said Sunday in a letter to employees:

Whatever the outcome of any further discussion, it is important that we continue to move forward to strengthen our services business online. The fact is that we are not where we want to be in this business and we still have been in this position longer than we would all like. To this end, we will accelerate elements of our basic strategy, and breaking ground in new areas. "

Microsoft research strategy, as outlined earlier by News.com 's Ina Fried, will be unveiled Wednesday during its annual conference on advertising, advance 08. This strategy includes expanding its capabilities in new types of vertical search and improving the overall relevance of search queries. For example, Microsoft will strengthen its stores search tools and improvements to its search algorithms.