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...

China begins to ease its 2,000-year-old monopoly...

Jan 3, 2017

China has started an overhaul of its salt industry, easing a monopoly that has existed in some form...

Asia shares falter as investors watch dollar,...

Jan 6, 2017

Asian shares are wavering as a weaker dollar discourages investors who are shying away from risky...

DEA opens shop in China to help fight synthetic...

Jan 6, 2017

The U.S. Drug Enforcement Administration plans to open a new office in southern China and, at...

China exports shrink as Trump trade tensions loom

Jan 13, 2017

China's exports fell back into contraction again last month, signaling renewed weakness for the...

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!