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Plaintiff in $2.7B judgment against Yahoo willing to take less

One of the plaintiffs in breach of contract lawsuit in Mexico against the Web pioneer tells Reuters his partners are willing to settle for less than the court's judgment.

After winning a $2.7 billion preliminary judgment against Yahoo, a plaintiff in a Mexico City civil court case said the matter can be settled for less than the court's judgment.

The judgment handed down Friday by the 49th Civil Court of the Federal District of Mexico City involved allegations that Yahoo was in breach of contract related to a yellow-pages listing service. The lawsuit was brought by Worldwide Directories and by Ideas Interactivas.

However, a man who is a partner in both firms tells Reuters that he and his partners would be willing to consider a settlement offer of less than the $2.7 billion judgment.

"If we can reach a settlement with an interesting number, we would go for it," Carlos Bazan-Canabal told Reuters.

The dispute involves a business venture formed by the companies between 2002 and 2004 for an online business search. The deal was supposed to last until 2009, but Yahoo canceled the deal, causing Ideas Interactivas to go bankrupt, Bazan-Canabal said.

CNET has contacted Yahoo for comment and will update this report when we learn more. Yahoo had previously said that the claims were without merit and that it planned to vigorously pursue all appeals.