TOKYO: Yahoo Japan Corp is buying back around $2 billion worth of its shares from SoftBank Group Corp as part of a three-way deal with its top shareholders, US investment firm Altaba Inc and SoftBank.
The deal will see Altaba, which was formerly the internet giant Yahoo! Inc, sell down its stake in Yahoo Japan by around $2 billion and SoftBank raise its stake slightly in Yahoo Japan to around 48 per cent.