Yahoo Japan jumps, sources say Yahoo to unload stake
TOKYO |
TOKYO (Reuters) - Shares in Yahoo Japan jumped 5 percent after sources said Yahoo Inc is in advanced talks to sell its stake to Softbank Corp.
A deal to transfer Yahoo's 35 percent stake in Yahoo Japan to investor Softbank could come within a few weeks, people with knowledge of the discussions said. The public value of the stake is just under $7.5 billion.
Yahoo Japan was trading around 32,750 yen after climbing as high as 33,250 yen. Shares in Softbank Corp fell 4.3 percent to 3,230 yen.
(Reporting by Ayai Tomisawa; Editing by Edwina Gibbs)
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