YAHOO'S BOARD yesterday intensified an attack on Carl Icahn, the activist investor, questioning his investment record and describing his plans for the internet company as ill-defined.

Mr Icahn wants to replace the board with his own slate of directors at Yahoo's annual meeting on August 1st and would like to sell the company to Microsoft.

In a regulatory filing of a "PowerPoint"-style presentation sent to shareholders, Yahoo said there were doubts Microsoft had been committed to buying the company, in spite of the $31-a-share offer made on January 31st.

Both sides are stepping up attempts to woo shareholders. In his letter and proxy statement last Thursday, Mr Icahn said his board, if elected, would consider eliminating a change-in-control worker compensation plan, replacing Jerry Yang as chief executive and offering to sell Yahoo to Microsoft. - (Financial Times service)