U.S. Investment Firm Altaba to Sell Yahoo Japan Shares

September 11, 2018

Silicon Valley- U.S. investment firm Altaba Inc., formerly Yahoo! Inc., said Monday that it will sell all of its stake in Internet portal Yahoo Japan Corp..

Taking over former Yahoo's investment assets, Altaba has managed the shares of Yahoo Japan, an affiliate of Japanese technology giant Softbank Group Corp.. It is the second-largest shareholder of Yahoo Japan after Softbank.

In February, Altaba expressed an intention of selling Yahoo Japan shares out of its holdings. Its stake has dropped since then but still stands above 20 pct.

The U.S. company plans to release the remaining shares at 354 yen each.

The core business of former Yahoo was sold to U.S. telecom giant Verizon Communications Inc. Jiji Press