Yahoo in talks on cutting stake in Japan search operation |
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Yahoo in talks on cutting stake in Japan search operation
The chief financial officer of Yahoo Japan said that his company is in talks with Yahoo about a complex deal to reduce the American company’s $6 billion stake in his business.
“Yahoo is still trying to finalize the mechanism [for selling its stake] and we are cooperating with them,” The Wall Street Journal quoted Akira Kajikawa as saying at a news conference.
Sunnyvale-based Yahoo owns about 35 percent of the Japanese company. Japanese mobile and Internet-service company Softbank owns 42 percent.
Yahoo Chairman Roy Bostock recently indicated that Yahoo was considering possibly selling off assets. Speculation focused on Alibaba or Yahoo Japan,
Microsoft’s Bing provides the underlying technology used on the Bing and Yahoo sites under an agreement between the two tech companies.
Despite the Yahoo-Bing partnership, Microsoft and Yahoo have not been able to topple rival Google from the top of the search heap.
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