SoftBank will buy 2 billion USD of Yahoo Japan shares held by Altaba

TOKYO: SoftBank Group Corp. announced Tuesday that its SoftBank Corp unit would buy 221 billion yen ($ 2 billion) of Yahoo Japan Corp shares, a 10.78 percent stake held by the investment company. American Altaba Inc.

SoftBank will purchase the shares through a takeover bid at 360 yen per share, the equivalent of Monday's close. Altaba, SoftBank and Yahoo Japan agree, the companies said in separate statements

Yahoo Japan will then buy 220 billion shares in SoftBank. After the transactions, the share held by SoftBank Group and its units will increase from 42.95% to 48.17% now, and Altaba will have approximately 27%,

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