Yahoo Drops Attempt to Buy DailyMotion After French Government Complains

The parent company of DailyMotion is owned 27 percent by the French government

Yahoo has abandoned its plan to acquire a majority stake in French online video amid political opposition, The Wall Street Journal reported.

Dailymotion, owned by telecom giant France Telecom, was expected to be the first major acquisition for Yahoo CEO Marissa Mayer. The Journal said the Internet firm had even signed a provisional deal to buy control of the site.