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Yahoo Hit with Multi-Billion Dollar Mexican Judgment
It’s apparently not a final decision
By: Maureen O'Gara
Dec. 10, 2012 07:00 AM
A Mexican court told Yahoo Friday that it owes $2.7 billion in a breach of contract, breach of promise and lost profits suit arising from contracts related to a Yellow Pages telephone listings service.
It's apparently not a final decision.
The verdict was issued by the 49th Civil Court of the Federal District of Mexico City in a case filed by Worldwide Directories SA de CV and Ideas Interactivas SA de CV.
Yahoo contends that the plaintiffs' claims are without merit and says it will appeal.
Yahoo has a market value of $22.2 billion and cash on hand worth roughly $8.41 billion as of September 30. Bloomberg figures the assessment is more the tip.
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