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clipped from online.wsj.com
Yahoo Buys Maktoob Arabic Portal

DUBAI (Zawya Dow Jones)--Yahoo Inc. (YHOO), said on Tuesday it agreed to buy Arabic online portal Maktoob.com as it seeks to add the Middle East to its expanding strategy for the fast-growing emerging markets.

Yahoo has 44 million users a month in the North Africa and Middle East region, Nilsson said. Maktoob.com has over 16 million users, according to the company.

Yahoo and rival Google, which already has Arabic internet services, are competing to tap the Arab World's fast-growing population of over 320 million and high per capita gross domestic product, one of the highest in the world.

"Saudi Arabia and Egypt offer tremendous size and growth opportunities that we will be looking at in addition to other countries in the Middle East," Nilsson said.

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