SOFTBANK announces a partial sale of its holding in Yahoo! Inc.Nov. 7, 2002
SOFTBANK CORP. announces that its wholly owned subsidiary, SOFTBANK America Inc. (Headquarter: Delaware, U.S.A., Representative: Masayoshi Son, hereinafter called “SBA”) sold a part of its holding in Yahoo! Inc. (hereinafter called “Yahoo”).
SBA sold 17,500,000 shares of Yahoo, for an aggregate price of approximately US$294 million (translated amount in yen: approximately 35.9 billion yen; exchange rate: $1=122 yen). Gain on sale of such shares is expected to be approximately 26.1 billion yen. SBA’s stake in Yahoo is expected to decrease from approximately 7% to approximately 4% after the transaction.
Proceeds from the above-mentioned sale will be allocated for reduction of interest-bearing debt in order to further strengthen the financial position and for the broadband business, which SOFTBANK as a group is developing vigorously, and other businesses.
- Releases, announcements, presentations and other information available from this page and elsewhere on this website were prepared based on information available and views held at the time of preparation and speak only as of the respective dates on which they are filed or used by SoftBank Group Corp. or the applicable group company, as the case may be. Such information is subject to change and may become out-of-date. Such information may also contain forward-looking statements which are by their nature subject to various risks and uncertainties that may cause actual results and future developments to differ materially from those expressed or implied by such statements. Please read legal notices in its entirety prior to viewing any information available on this website.