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Yahoo Close To Japan Exit

  • Reuters, Wednesday, March 2, 2011 12:18 PM
In an effort to focus on other regions, Yahoo is in "advanced" talks to leave its Japanese joint venture, Reuters is reporting. Sources say a deal to transfer Yahoo's 35% stake in Yahoo Japan to Softbank Corp -- which already controls 42% of the unit -- could come within weeks. If and when the deal goes through, sources suggest that Yahoo will hone in on China, where it owns about 40% of prominent Internet company, Alibaba Group, the parent company of Alibaba.com.

Yahoo's plans for China, however, remain unclear. What is known is the rocky relationship between Yahoo, Japan's Softbank and Alibaba. For several years, Alibaba founder Jack Ma has sought to buy back Yahoo's stake in his company, while Softbank founder and major shareholder Masayoshi Son has openly criticized Yahoo's business acumen.

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