SoftBank raises stake in Yahoo Japan in purchase from Altaba

TOKYO — Japanese internet company SoftBank Corp. is investing about $2 billion to raise its stake in Yahoo Japan through an acquisition from U.S. investment company Altaba Inc.

SoftBank has been boosting its collaboration with Yahoo Japan, a search-engine company, to strengthen its e-commerce, smartphone services and other businesses.

The deal, announced Tuesday in a statement from Softbank will raise its stake in Yahoo Japan to 48 percent from about 43 percent. The three-way transaction between Altaba, SoftBank and Yahoo Japan will cut Altaba's stake to 27 percent.

SoftBank, a leading Japanese telecommunications company, has financial-technology, ride-booking services, solar energy and the Pepper human-shaped companion robot among its widespread businesses.

It also owns British semiconductor company ARM, an innovator in the "internet of things," and a Japanese baseball team, the Softbank Hawks.

You may also interested in

China's electric vehicle industry shaken by...

Sep 13, 2016

China's electric vehicle industry, a flagship for Beijing's technology ambitions, has been rocked...

Tesla's Autopilot system under scrutiny in fatal...

Sep 15, 2016

Tesla faces new scrutiny in China about its vehicle Autopilot system after state television...

Asian stocks rise after Wall Street gains

Dec 21, 2016

Asian stocks are higher after U.S. stocks rose to record levels despite attacks in Germany and...

Choked by smog, Beijing creates new environmental...

Jan 8, 2017

Officials in Beijing have announced a new environmental police squad to root out illegal burning in...

Chinese delegation open to meeting Trump's team...

Jan 11, 2017

A Chinese official says President Xi Jinping's delegation to the World Economic Forum is open to...

About Us

Frontal Report is an emerging leader in all forms of media. We aim to be the leading news brand for readers around the world.

Contact us: sales[at]frontalreport.com

Subscribe Now!