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Business briefs

For Sunday, May 22, 2011

By Associated Press


Skype cancels IPO

SAN FRANCISCO >> Internet calling service Skype has canceled its IPO now that it has agreed to be sold to Microsoft for $8.5 billion. Skype served notice that it was withdrawing its initial public offering of stock in a filing with regulators Friday. The IPO became moot last week after Skype accepted Microsoft’s takeover offer. Skype, now owned by investment funds and eBay, had filed its plans to go public last August.

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