GMO Internet Inc (9449.T)
19 Jan 2018
Fri, Jan 19 2018
* Oasis holds 5 pct of GMO Internet's shares (Updates with market reaction, comments from GMO)
TOKYO, Jan 19 Japan's Nikkei share average edged up on Friday morning with financial stocks leading the gains after U.S. yields rose, while GMO Internet soared after an activist fund called on the company to abolish its takeover defences and reduce the power of its founder.
TOKYO, Jan 19 Hong Kong-based activist investor Oasis Management Company has proposed that Japanese internet and cryptocurrency firm GMO Internet reduces the power of its founder and abolishes its takeover defences.
* Says it will merge with three units, GMO Gamepot Inc., Syncloud, Inc and Tokyo-based mobile entertainment firm, effective Dec. 1
* Says it will retire 847,790 shares (0.7 percent of outstanding) of its common stock on Oct. 30
BRIEF-GMO Internet to invest 10 billion yen ($90.4 million) in a new bitcoin mining business - Nikkei
* GMO Internet said it will invest 10 billion yen ($90.4 million) in a new bitcoin mining business that will operate in part like a fund - Nikkei Source text:(http://s.nikkei.com/2vV3NmT) Further company coverage:
* Says it will start bitcoin mining business in the first half of 2018
* Says its unit GMO AD Partners Inc will acquire 100 percent voting power in a Tokyo-based firm, which is engaged in manufacture and sale of video content