S&P: Yahoo! unaffected

Standard & Poor's said Tuesday that Yahoo! Inc.'s (BB+/positive/--) definitive agreement to acquire Kelkoo SA for about €475 million in cash does not affect its rating on the company.

The acquisition is expected to be completed in the second quarter of 2004. Kelkoo has one of the most visible e-commerce brands in Europe and is Europe's leading online comparison shopping service. Its operations cover nine major European markets and nearly 10% of all European internet users.

S&P said the acquisition of Kelkoo will give Yahoo! a strong presence in the fast growing European market and a platform for more acquisitions on the continent.

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