September 11, 2019 / 9:58 PM / 7 days ago

Yahoo Japan to launch bid for online retailer Zozo -NHK

TOKYO, Sept 12 (Reuters) - Internet and e-commerce company Yahoo Japan Corp, will launch a takeover bid for online clothing retailer Zozo Inc, public broadcaster NHK said on Thursday.

Zozo founder Yusaku Maezawa is willing to sell his shares in the tender offer, NHK said, citing sources. The deal would be worth “hundreds of billions of yen”, NHK said.

Yahoo Japan is nearly a third owned by Japanese telecom SoftBank Corp. Zozo has a market value of around 660 billion yen ($6.1 billion), according to Refinitiv data. ($1 = 107.8100 yen) (Reporting by Ritsuko Ando; Editing by David Dolan)

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