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Updated: Time Warner, which is in the process of deciding whether or not to spin off AOL, has told Google (NSDQ: GOOG) it will buy back the…

Updated: Time Warner, which is in the process of deciding whether or not to spin off AOL, has told Google (NSDQ: GOOG) it will buy back the 5 percent of AOL the search company acquired in 2006. Next step: a fair-market appraisal of the value. From the 10-Q filed this morning:

“In late January 2009, Google exercised its right to request that AOL register Google

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  1. 5% share is a tolerable equity interest. Actually, no power to exercise any influence in AOL as a whole. Therefore, I can't question the statement of Martin cause it is not really worth of any trouble.

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