SoftBank sells most Yahoo shares to repay Citi loans
Source: Internet
Author: User
KeywordsLoans shares Yahoo SoftBank Citi Yahoo
Sina Science and technology news Beijing time August 26 afternoon, SoftBank announced today, decided to sell the majority of Yahoo shares to repay Citigroup's 1.135 billion dollar loan. SoftBank and Citi reached a forward-contract loan contract in February 2004, with SoftBank lending 1.135 billion of billions of dollars through Citigroup's US branch, which, according to the terms of the contract, will use Yahoo shares to repay its debt, which needs to be completed by the end of September 2011. The sale of the Yahoo shares will also be soft silver for the 2011 fiscal year (as of March 31, 2012) to bring a special income of 76.4 billion yen, the annual net profit increased by 44.7 billion yen. After the sale of the shares, SoftBank's stake in Yahoo will fall from the previous 4% to only 0.002%. (Xiao Ming)
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