August 27, 2011 |
Japanese telecommunications company Softbank said Friday that it would sell almost all its 4% stake in Yahoo Inc. to repay a loan of about $1.1 billion to Citibank. Softbank said it would transfer the shares to Citibank to pay off the loan, which it took out in 2004. However, Yahoo shares have fallen about 45% since then, meaning the market value of the stake is now closer to $660 million. Softbank said the transaction was provided for under the agreement by which it obtained the loan, allowing it to repay either in cash or Yahoo shares.
December 5, 2007 |
Yahoo Japan Corp. and EBay Inc. agreed to team up in online auctions, planning services for next year that will make it easier to buy things over the Internet from the U.S. and Japan. The move marks a return to Japan of EBay, which pulled out of the market in 2002, unable to compete against the domination of Yahoo there. Yahoo said that by March, Japanese would be able to bid for items up for sale on EBay through the Yahoo auction site in Japan.
August 11, 2005 |
Yahoo Inc. said late Wednesday that it would pay $1 billion in cash for a 40% stake in Alibaba.com, one of China's biggest Internet companies, establishing China as the newest front in the war among online giants. Yahoo said it would merge its Chinese operations with Alibaba, which offers a search engine, e-commerce site, online auctions and online payments. The new company would be led by Alibaba Chief Executive Jack Ma and would do business under the Yahoo name.
April 7, 2004 |
Schwab Soundview analyst Jordan Rohan cut his rating on Yahoo Inc. to "neutral" from "outperform" out of concern that Yahoo Japan was overpriced. Trading at 87 times earnings, excluding certain costs, Yahoo Japan is the world's most expensive Web stock, Rohan said. Yahoo owns 34% of Yahoo Japan, and it could suffer if shares of the Japanese unit tumble, he said. Yahoo shares fell $1.22 to $48.77 on Nasdaq. Sunnyvale, Calif.-based Yahoo reports first-quarter earnings today.
March 16, 2000 |
Launch Media, the Santa Monica Internet music company, is expanding to Japan through a partnership to be announced today with two Internet heavyweights. Softbank Publishing, a subsidiary of Japanese Internet investor Softbank Corp., and Yahoo Japan will join Launch in creating a joint venture called Launch Japan, a music Web site with songs and editorial content in Japanese. Softbank Publishing will own 50% of the new company, while Launch will have a 30% stake and Yahoo Japan will own 10%.