Japanese telco SoftBank Corp said on Wednesday it would spend $4 billion to up i...
TOKYO - Japanese telco SoftBank Corp said on Wednesday it would spend $4 billion to up its stake in Yahoo Japan Corp and turn the internet company into a subsidiary, a move that would help boost its profit by 24 percent this year.
With that addition, SoftBank Corp, which listed in December in Japan’s largest-ever initial public offering, forecast its operating profit would rise to 890 billion yen in the current financial year through March 2020. The deal will strengthen cooperation between SoftBank Corp, Japan’s third-largest telco, and Yahoo Japan, an internet heavyweight in areas such as news and shopping.
Some analysts see the telco as well positioned to weather the price squeeze as it targets data-heavy smartphone users with premium-priced plans while offering low-cost options for thrifty customers under separate branding.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SoftBank planning IPO of $100 billion Vision Fund: WSJJapan's SoftBank Group Corp is considering an initial public offering of it...
Read more »
SoftBank mulls IPO of $100 billion Vision Fund: sourceJapan's SoftBank Group Corp is considering an initial public offering of it...
Read more »
Japan's SoftBank set for small profit rise, Vision Fund IPO plans eyedJapan's SoftBank Group Corp is expected to report a small rise in its fourt...
Read more »
News Corp appeals ruling in Geoffrey Rush defamation suitNews Corp's Australian arm on Monday appealed a judgment awarding Oscar-win...
Read more »
Dish quarterly profit misses on pay-TV subscriber lossesDish Network Corp fell short of estimates for quarterly profit on Friday, as the...
Read more »
Exclusive: Meredith to explore sale of its U.S. broadcast stations - sourcesEXCLUSIVE: Meredith will explore a sale of its U.S. broadcast stations, which would leave the company with just its digital and print media business
Read more »
Occidental says its only option was to boost cash piece of Anadarko bidOccidental Petroleum Corp said on Monday its latest bid to take over Anadarko Pe...
Read more »
Starbucks recalls coffee presses because of laceration hazardStarbucks Corp is recalling about 263,000 of its coffee presses, made in partner...
Read more »
Exxon Mobil sues Cuba for $280 million over expropriated propertyExxon Mobil Corp on Friday sued Cuba's state-owned Cuba-Petroleo and CIMEX ...
Read more »
Occidental shareholders criticize bid for Anadarko, Buffett financingSeveral major Occidental Petroleum Corp shareholders have voiced opposition to t...
Read more »