Microsoft backs out of Yahoo bid ...

Microsoft on Saturday evening triggered surprise by withdrawing its bid for Yahoo. Company chief Steve Ballmer has validated earlier public comments expressing doubt over the viability of concluding a deal and has revealed that Microsoft offered to raise its bid up to $33 per share in an attempt to win over the Yahoo board of directors, which has insisted so far that the initial $31 per share bid undervalues the search engine giant's worth. The Microsoft executive also states that Yahoo has insisted on a higher-still bid and that his firm doesn't consider an extended proxy effort to install a sympathetic board to be effective.

T-Mobile parent mulling Sprint takeover?...

T-Mobile's parent company Deutsche Telekom is seriously considering merging with or taking over Sprint, claims the German national magazine Der Spiegel. A continued weakening of US currency values, combined with worsening results at Sprint, is reportedly leading the European company to investigate transactions that would help T-Mobile USA gain ground in the US market and better compete against AT&T. The opportunity is rare and would cost Deutsche Telekom less than it did to buy VoiceStream in 2001 and assume its role as one of the largest American carriers, according to the report.