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Boston: Microsoft Corp has proposed to buy Yahoo Inc's search business and take a minority stake in the company, a person familiar with the discussions said on Monday.
As part of the deal, Yahoo would sell its Asian assets including significant minority stakes in Yahoo Japan and China's Alibaba Group, while Microsoft would buy a chunk of what remains of the company, the source said.
The talks were revealed by the two companies on Sunday, but they declined to reveal the terms of the discussions.
Earlier this month, Microsoft walked away from a proposal to acquire Yahoo for $47.5 billion after Yahoo rebuffed the offer.
The new deal, if completed, would forge an alliance between the two companies that would represent an alternative means of competing with rival Google Inc, whose search engine has made it an online advertising powerhouse.
Microsoft and Yahoo representatives declined to comment.
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