Yahoo!-Microsoft deal gets green light from Australia and Canada

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Google better be ready, as the partnership between Yahoo! and Microsoft gets the stamp of approval from Australian and Canadian competition authorities today.

The 10-year Internet search and advertising partnership between the two companies was first unveiled in July, and will tackle head-on against Google. This no-cash deal will allow Yahoo! to use Microsoft’s Bing search engine on its sites. In return, Yahoo! will be providing exclusive global sales force for premium search adveritisers.

“Microsoft and Yahoo! have been notified that Australian and Canadian authorities have separately concluded their reviews and have no objections to our proposed search agreement,” the two said a joint statement. “We continue to believe that this deal will create a true, competitive alternative in the marketplace that will benefit consumers, advertisers and publishers.”

Yahoo! and Microsoft also said that they remain hopeful that the agreements will be finalized by early next year.

The partnership of the two companies however, is still yet to be reviewed by US anti-trust regulators.

Source: http://tech.yahoo.com/news/afp/20091124/tc_afp/usaustraliacanadaitinternetyahoomicrosoftgoogle