A report from Business Insider AOL has initiated a process that could lead to its sale to Microsoft. Despite the reasons given in the report - including Microsoft's desperation to gain ground against Google - speculation makes little sense.
AOL shares rose as much as 5.8 percent on the New York Stock Exchange. In afternoon trading they were up 46 cents, or 2.2 percent, at $21.46, as the tech-heavy Nasdaq slid more than 3 percent.
AOL shares jumped 1.3 percent amid a strong sell-off on rumors the company could be entertaining the idea of doing more than a search deal with Microsoft. AOL ended the session up 28 cents, to $21.28 -- while Microsoft fell almost 4 percent to $25.79.
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