Altaba to Sell up to About $2 Billion of Yahoo Japan Stock to SoftBank
July 09 2018 - 8:10PM
Dow Jones News
By Josh Beckerman
Altaba Inc. (AABA), which emerged after Yahoo Inc. sold its core
internet business to Verizon Communications Inc. (VZ), said it will
sell up to 613.9 million shares of Yahoo Japan Corp. (4689.TO) to
SoftBank Group Corp. (9984.TO) unit SoftBank Corp. for up to
roughly $2 billion.
Altaba and SoftBank have terminated their joint venture
agreement for Yahoo Japan.
Altaba's previously announced self-tender remains open.
After the sale of Yahoo's web assets, Altaba owned Yahoo's
stakes in Alibaba Group Holding Ltd. (BABA) and Yahoo Japan, and
planned to eventually sell down those holdings.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
July 09, 2018 19:55 ET (23:55 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
Alibaba (NYSE:BABA)
Historical Stock Chart
From Aug 2024 to Sep 2024
Alibaba (NYSE:BABA)
Historical Stock Chart
From Sep 2023 to Sep 2024