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Mexican court orders Yahoo to cough up $2.7bn
A Mexican court has slapped Californian internet company Yahoo with a $2.7 billion damages bill following a contract dispute with former partners in the country.
Yahoo could say adiós to $2.7bn
The Financial Times newspaper reports Yahoo announced the ‘non-final’ judgment late on Friday, and added that it would ‘vigorously pursue all appeals’.
Breach of contract
The action was brought by Worldwide Directories and Ideas Interactivas, which previously worked with Yahoo on the creation of Yahoo! Páginas Útiles, a printed and digital phone book in Mexico. The Mexican companies accused Yahoo of breach of contract, breach of promise and lost profits relating to the service.
Yahoo declined to comment further, while Worldwide Directories and Ideas Interactivas are yet to comment on the award.
