During a 75-minute press conference, Google Inc CEO Eric Schmidt said he planned to go ahead with the deal with Yahoo Inc and implement the advertising search agreement. Schmidt also told reporters on Wednesday he believed Microsoft is actually behind the recent attempts to block the Google-Yahoo advertising search deal.

During the press conference held at the company’s HQ in Silicon Valley, the executive said he was expecting the objections to Google’s deal with Yahoo.

"We are quite certain that Microsoft is busy helping everyone get upset about these things," said Schmidt. His stated opinion on the matter was that Google does not need any governmental approval to go ahead with the deal under which the online advertising leader would supply adds to run next to a part of Yahoo’s Web search results.

The deal will go on as initially planned and will be finalized in October, Schmidt underlined at the press conference. When asked whether the two advertising search giants would set a limit on how many ads it delivers to Yahoo, Schmidt refused to answer.

Google has already delayed the date when the deal with Yahoo should have been signed and implemented by three months in order to give federal regulators the chance to review the proposed alliance. However, Google is not disposed to waste any more time with the reviews, the company’s CEO said.

"Time is money in our business," he told reporters.

"While we have been talking to regulators, we don't know what their position is," Schmidt added.

"We don't know if they think it's a good deal or poor deal."

The two advertising search behemoths control as much as 80% of the U.S. online advertising market and the deal has raised antitrust concerns.

Yahoo shares dropped 44 cents to $18.82 Wednesday, while Google fell $28.44 and settled at $414.49.