Yahoo shares fall after Microsoft withdraws bid

Frankfurt: Shares in Yahoo Inc fell more than 17 per cent on Monday after Microsoft Corp dropped its bid for the internet company.

Yahoo shares were down 17.2 per cent in Frankfurt at $23.17, while Microsoft shares rose 3.7 per cent.

Yahoo faces growing pressure to find an alternative strategy to Microsoft's $47.5 billion takeover offer.

It is likely to push for an advertising partnership with web search leader Google Inc, sources familiar with the matter said on Sunday.

Google shares rose 3.4 percent in Frankfurt on Monday.