Microsoft says it has raised the possibility of a new deal with Yahoo, one that may involve buying a part of the company but not all of it.
"Microsoft is considering and has raised with Yahoo an alternative that would involve a transaction with Yahoo but not an acquisition of all of Yahoo," Microsoft said in a brief statement.
Yahoo could not immediately be reached for comment.
Microsoft withdrew its offer to buy Yahoo on May 3 after the two sides failed to agree on a price. Since then, the activist Yahoo investor Carl Icahn has said he will launch a proxy battle to replace Yahoo's board and force it back to the negotiating table with Microsoft.