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Yahoo has just officially acquired Maktoob, a very popular Arabic web portal that offers services including search, payments, social network, and auctions. Rumors of an aquisition have been building for months, and in the last hour they reached a head as news of an impending press conference broke. The price hasn’t been announced, but our sources say $85 million. Read More

Breaking news from the other side of the world: Yahoo may well have acquired Maktoob, a leading Arab internet portal that encompasses a variety of services including search, Email, social network, and more. As reported on Arabcrunch (which is unaffiliated with TechCrunch), a press conference announcing the deal appears to be imminent. Read More