December 19, 2019 / 5:48 AM / a month ago

India's Oyo says SoftBank's Yahoo Japan exits Japan apartment venture

TOKYO, Dec 19 (Reuters) - India’s Oyo Hotels and Homes said on Thursday SoftBank-controlled Yahoo Japan has quit its Japanese room rental venture, in the latest setback for the fast growing, money losing startup.

Oyo, which is also backed by SoftBank Group Corp, said it has bought back the shares in Japanese apartment rental company Oyo Life held by internet firm Yahoo Japan, now known as Z Holdings, for an undisclosed amount. (Reporting by Sam Nussey; Editing by Muralikumar Anantharaman)

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