SUNNYVALE, Calif. (AFX) - Vodafone Group PLC, the world's largest mobile p
hone company, and online search engine Yahoo Inc. said Tuesday that they are forming a strategic alliance to create a mobile advertising business.
Under the deal, Yahoo will become Vodafone's exclusive display advertising partner in the United Kingdom, providing a variety of mobile advertising formats across Vodafone's content services. The companies plan to roll out the initiative in the United Kingdom in the first half of next year.
Customers who agree to accept targeted display ads will receive savings on certain Vodafone services, which may include the 'Vodafone live!' portal, games, television and picture messaging services.
Shares of Yahoo fell 19 cents to $27.21 in morning trading on the Nasdaq, while shares of Vodafone dropped 32 cents to $25.63 on the New York Stock Exchange.
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