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Google, Yahoo Interest In Rediff Dismissed

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A rumor reported at the Hindustan Times about India’s Rediff portal being a takeover target appears to be more of a leap of faith than a hot tip.

Google, Yahoo Interest In Rediff Dismissed
Google, Yahoo Interest In Rediff Dismissed

One must always consider a cardinal truth about companies and acquisitions: corporate types lie through their teeth about such deals until the ink dries on the contracts and everyone has signed on the dotted line.

A growing class of Internet users in India drives the popularity of native web services, like the Rediff portal. Just as major online players from the US have entered China to compete with native services, or build local ones, India attracted similar attention.

The potential for one of the big online giants to make a sweeping statement in Mumbai and beyond picked up plenty of attention. A Hindustan Times claimed Yahoo or Google could be eyeing Rediff for a takeover.

If rumors are true, Rediff has been negotiating a deal with one or both companies. However, Rediff may be in the penumbra of India-related rumors. A report at ContentSutra said a Rediff spokesperon denied the report as baseless.

Those rumors have been fueled by speculation in Barron’s, citing an analyst discussing general interest from Google and Yahoo in India web properties.

Rediff could be in for a rough morning anyway. ContentSutra, citing Barron’s again, said both Rediff and another portal, Sify, have been trading at multiples that far outstrip the ad market in India.

One might think if Rediff takes a big hit from investors on NASDAQ once the market opens, they could be a takeover target.

Google, Yahoo Interest In Rediff Dismissed
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