TOKYO May 19 Yahoo Japan Corp has
dropped its plan to buy mobile network operator eAccess from top
shareholder SoftBank Corp in a 324 billion yen ($3.2
billion) deal to reorganise SoftBank group assets and create a
new mobile Internet service.
SoftBank said on Monday that eAccess would proceed with a
planned June 1 merger with SoftBank's Willcom wireless services
SoftBank said that during discussions that followed the
March 27 announcement that Yahoo Japan would acquire eAccess, it
was decided that Yahoo Japan would instead offer services via
eAccess but leave eAccess as a separate company operating
wireless network infrastructure.
SoftBank owns 42.6 percent of Yahoo Japan, the country's
biggest Internet portal.
($1 = 101.4600 Japanese Yen)
(Reporting by Yoshiyasu Shida and Edmund Klamann; Editing by