Google Reaches Definitive Agreement To Buy 5% Stake In AOL

Reuters reports that Google has finally reached an agreement with AOL to buy a 5% stake in the company. You can view the update here that says, in part; “On March 24, 2006, the parties signed definitive agreements governing this $1 billion investment in AOL and Google expects that the investment will close in the second quarter of 2006.” So Google needs to hand over $1 billion in cash to AOL to acquire a 5% equity interest in AOL.