SEOUL -- Microsoft (NASDAQ: MSFT) does not rule out partnerships with other companies but has nothing imminent, Chairman Bill Gates said on Tuesday, after the software company pulled a $47.5 billion bid for Yahoo (NASDAQ: YHOO).

Microsoft walked away from its bid to buy Yahoo on Saturday, after the Internet company turned down its $33-per-share offer.

"The key decisions on that will be made by Microsoft CEO Steve Ballmer, who took a look at Yahoo and decided that, on our own, he likes the stuff that we're doing," Gates said in response to a reporter's question about Microsoft's plans.

"I wouldn't rule out some partnerships but we don't have anything imminent there," he added.

Gates' comments were part of a media pool report. He spoke after meeting South Korean President Lee Myung-bak to discuss cooperation with South Korean companies.

Microsoft courted Yahoo to capitalize on the rapidly growing market for Internet advertising, which has long been served by Yahoo's search, e-mail and Web communities.

It is also trying to fend off the expansion of Google, which has made inroads into Microsoft's home turf with a portfolio of Web based-applications.

Microsoft now needs to convince investors it has a viable alternative to fix an online business that has racked up nine straight quarters of losses.

LATEST NEWS

Intel Says Lower PC Demand Hurt Q4 Revenues
Sony's Social Networking Site Needs a Name
Satyam Software Scandal Hits Indian Outsourcing
Lotus Debuts Notes 8.5 for Mac After a Long Tease
The (Redmond) Empire Strikes Back

More InternetNews.com