Yahoo Japan Corp will buy mobile network operator eAccess from No. 3 Japanese wireless carrier SoftBank Corp for 324 billion yen ($3.17 billion) to launch its own mobile Internet service.
Yahoo Japan, the country's biggest Internet portal and 42.6 percent owned by SoftBank, said on Thursday its new Y!mobile service would aim for more than 20 million users and would use a simple pricing structure to attract new customers.
Yahoo Japan shares surge after it cancelled $3.2 billion eAccess deal
Shares in Internet giant Yahoo Japan surged in Tokyo on Tuesday after it cancelled plans to buy domestic telecom company eAccess from its parent SoftBank Corp. in a $3.2 billion deal. The stock jumped 11.67 per cent to close at 459 yen, after it rose nearly 15 percent in early trading.