Edition:
United Kingdom

Altaba Announces Agreement To Sell Up To 613.9 Mln Shares Of Yahoo Japan Corporation To Softbank For JPY 360 Per Share In Cash


Tuesday, 10 Jul 2018 

July 9 (Reuters) - Altaba Inc ::PRESS RELEASE - ALTABA ANNOUNCES AGREEMENT TO SELL UP TO 613,888,888 SHARES OF YAHOO JAPAN CORPORATION TO SOFTBANK CORP. FOR JPY 360 PER SHARE IN CASH.ALTABA AND SOFTBANK TERMINATE JOINT VENTURE AGREEMENT RELATING TO YAHOO JAPAN.IN ORDER TO COMPLY WITH JAPANESE LEGAL REQUIREMENTS, TRANSACTION IS BEING STRUCTURED AS A TENDER OFFER BY SOFTBANK CORP.SOFTBANK CORP WILL TENDER FOR 613.9 MILLION YAHOO JAPAN SHARES, OR EQUIVALENT OF US$ 2 BILLION AT TENDER OFFER PRICE.IN CONNECTION WITH TERMINATION OF JV AGREEMENT, ARTHUR CHONG AND ALEXI WELLMAN RESIGNED FROM BOARD OF YAHOO JAPAN CORPORATION.