Softbank, the Japanese telecommunications and internet group, said it had no intention of selling its 41 per cent stake in Yahoo Japan after Microsoft’s $41.8bn bid for Yahoo, the US search engine group.
“We will consider the [Microsoft] bid in light of our overall Yahoo strategy,” said Masayoshi Son, Softbank’s president. “We have no intention of selling our Yahoo Japan stake.”
Mr Son also said that Softbank, which owns 3.9 per cent of Yahoo, had no plans to take part in a counter-bid for the US company, which owns 33 per cent of Yahoo Japan.
Msg#: 3569462 posted 1:28 pm on Feb 8, 2008 (gmt 0)
I haven't been this interested in a story in a long time. I wondered what his reaction would be or if they consulted him first. Can Microsoft take over Yahoo USA with out Yahoo Japan? Or would they take over both companies? Pretty interesting.
"Whoever controls Asia, controls the world," Softbank's President Masayoshi Son told reporters last week. "Yahoo's Asia business are strong attractions for Microsoft."
Under an agreement with Yahoo, Softbank can veto any sale or purchase by Yahoo of Yahoo Japan shares, according to Yahoo Japan's financial documents. That could affect a transfer of Yahoo Japan shares to Microsoft.