Yahoo Acquires Shares of Yahoo Korea from Softbank
Yahoo has been quite busy lately buying out the International Yahoo portals from the Japanese Softbank Corporation, which was the majority owner of Alibaba before the Yahoo, Alibaba, Yahoo China deal this past summer. Yahoo has purchased Softbank’s shares in Yahoo Korea, Yahoo UK, Yahoo Germany, and Yahoo France. No word on Yahoo plans of buying Yahoo Japan from Softbank.
Parthajit Bhattacharyya, Editor of Digital Media Asia, reports :
Yahoo, Inc., a global internet company, announced that it has entered into an agreement with Softbank Corporation, Softbank Korea Corporation and Yahoo Japan Corporation to purchase their combined stake of approximately 33 per cent in Yahoo Korea.
Yahoo also announced that that it has entered into a separate agreement with Softbank Holdings (Europe) Ltd. to purchase Softbank’s stake of approximately 30 per cent in Yahoo UK, Yahoo Germany and Yahoo France.
The total purchase price for the Softbank interests in these transactions is $500m, to be paid in cash. Upon completion of the deals, each of the subsidiaries will be wholly owned by Yahoo.
