EU, US clear Microsoft, Yahoo! deal

The European regulatory authorities and  the US Department of Justice yesterday gave their green signal to Microsoft's landmark deal to buy Yahoo's internet search and advertising businesses, the companies announced yesterday.

The commission ruled that the deal "would not significantly impede effective competition" in the search engine marketplace.

"This breakthrough search alliance means Yahoo! can focus even more on our own innovative search experience," said Yahoo! chief executive officer Carol Bartz said in a statement yesterday.

"Yahoo! gets to do what we do best: combine our science and technology with compelling content to build personally relevant online experiences for our users and customers," he added.

Microsoft CEO Steve Ballmer was also enthusiastic about the company's new venture.

"Although we are just at the beginning of this process, we have reached an exciting milestone," Ballmer said.