Yahoo Inc said on Thursday that a Mexican appellate court had thrown out a $2.75 billion ruling by a lower court against Yahoo and Yahoo Mexico in a contractual dispute with two Mexican firms.<\/p>\n
The appellate decision overturned all monetary awards against Yahoo and upheld an award of $2.6 million in the original for Yahoo Mexico, the company said in a statement. It was not immediately clear when the court issued its ruling.<\/p>\n
The original ruling late last year was equal to an estimated 40 percent of Yahoo’s 2012 cash balance, and its scope and size perplexed the tech world.<\/p>\n
The Mexican firms, Worldwide Directories S.A. de C.V. and Ideas Interactivas S.A. de C.V., had alleged breach of contract by Yahoo related to an online yellow pages listings service.<\/p>\n
A Yahoo spokeswoman said in a statement that the company would not be commenting further on the case.<\/p>\n
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