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YAHOO! AND VISA, TOGETHER AGAINIT'S AS IF THEY GOT REMARRIED before the ink on the divorce decree dried. Yahoo! and Visa International on July 29 ended a 16-month-old joint venture to create an electronic-commerce Web site. So Yahoo! will hand over $21 million in stock to Visa in exchange for its 45% share of the joint venture and take a $21.2 million pretax charge against second-quarter earnings. But the romance continues. The companies simultaneously announced a raft of new projects, including a co-branded Yahoo! Visa card.
EDITED BY KELLEY HOLLAND
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Updated July 31, 1997 by bwwebmaster
Copyright 1997, by The McGraw-Hill Companies Inc. All rights reserved.
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