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SoftBank tightens grip on Yahoo Japan via $2 billion deal with Altaba

Reuters  |  TOKYO 

By Sam NusseyTOKYO (Reuters) - SoftBank Group is increasing its stake in Yahoo Japan through a $2 billion, three-way deal with U.S. firm Altaba to deepen ties with the internet heavyweight ahead of an IPO of its telecoms unit.The transaction, with just $9 million net investment by SoftBank, allows it to boost ownership of Yahoo Japan without pressuring its already strained balance sheet. It also leaves SoftBank's domestic telecoms unit with a 12 percent stake in Yahoo Japan, highlighting for investors the two companies' ties ahead of its planned listing.In the case of Altaba, formerly called ...

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First Published: Tue, July 10 2018. 16:13 IST