SoftBank will sell nearly 4% Yahoo shares to repay 1.135 billion loans
Source: Internet
Author: User
KeywordsLoans stakes Yahoo SoftBank Yahoo
"Sadie Network News" August 27, according to foreign media reports, SoftBank said in Friday, it has decided to sell almost all of its 4% stake in Yahoo to repay the United States Citibank about 1.135 billion U.S. dollars of loans. When SoftBank received the loan from Citigroup in February 2004, the software said it would repay the loan with a stake in Yahoo. The loan repayment is expected to be carried out by the end of September. After the sale of the shares, SoftBank's share of Yahoo shares will fall from the current 4% to 0.002%. The software says it will receive a special gain of about 76.4 billion yen from selling Yahoo shares in the fiscal year ending March 2012. The one-off profit could raise the net profit of SoftBank for the 2012 fiscal year by about 44.7 billion yen.
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