Internet news

Yahoo!
is trying moving further in.
bought an additional 6.8 million shares of the Internet search engine over the Thanksgiving week to up his stake in
Yahoo!
) to 5.5%, or 75.6 million shares, according to a filing with the U.S. Securities and Exchange Commission.
The enlarged holding in Yahoo! is likely to fuel speculation that Icahn is trying to take over the company now that the co-founder and chief executive has said that he will step down. (See
Icahn bought the new stake for an average price of $9.92 per share, a total of $67.5 million. Shares of Yahoo! were trading up 21 cents, or 2.0%, at $10.80, on Friday morning after the filing was disclosed. But Yahoo! remains down 64.3% from its 52-week high of $30.25 that it hit in mid-February.
Earlier this month, Yang said he would only stay on in the chief executive role until a replacement could be found. Yang has been at the search engine's helm through some turbulent times, including the bumbling of a roughly $31-a-share takeover offer from
). Yang is blamed for ruining the rapport between the two companies as well as failing to close the best deal for shareholders.
). The two companies had been in talks to work together on online advertising, but Google pulled out in early November citing regulatory hurtles. (See
Icahn has been vocal about his perceptions of mismanagement at Yahoo!. He previously threatened to nominate a full slate for board members to replace the current directors after Yahoo! turned down the $47.5 billion take over bid from Microsoft. He was appeased with a seat for himself and two of his cronies. (See