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SoftBank Corp to buy $2 bn worth of shares held by US firm in Yahoo Japan

SoftBank will buy the shares via a tender offer at 360 yen per share, equivalent to Monday's close

Reuters  |  Tokyo 

SoftBank Group Corp said on Tuesday that its unit SoftBank Corp would buy 221 billion yen ($2 billion) worth of shares in Yahoo Japan Corp, a 10.78 per cent stake, held by US investment firm Altaba Inc. SoftBank will buy the shares via a tender offer at 360 yen per share, equivalent to Monday's close. Altaba, SoftBank and Yahoo Japan agree to the deal, the companies said in separate statements. ALSO READ: SoftBank-backed OYO now 100,000 rooms brand, eyes another 100,000 by Mar 1 Yahoo Japan will then buy back 220 billion of stock from SoftBank. After the ...

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First Published: Tue, July 10 2018. 07:01 IST
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