NEW YORK (Reuters) - Yahoo Inc on Thursday warned its shareholders that billionaire Carl Icahn's agenda present a "significant risk" to their investment, and reiterated that Yahoo would sell itself to Microsoft but only under the right terms.


In a public letter to shareholders, Yahoo Chairman Roy Bostock and Chief Executive Jerry Yang said the alliance between activist investor Icahn and Microsoft "continues to make misleading statements about their plans for Yahoo.

"Your Board of Directors believes strongly that the Icahn-Microsoft agenda -as presented to us jointly last week - will destroy stockholder value at Yahoo, serving only their very narrow special interests, clearly not your interests," Yahoo said.

Yahoo added that it is "preparing to implement (its) recently signed commercial agreement with Google that will increase cash flow."

(Reporting by Franklin Paul; Editing by Derek Caney
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