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Yahoo Japan Corp. said it is in talks with its U.S. namesake on how the latter can sell its stake in the Japanese company, valued at around $6 billion, without paying hefty taxes.
"Yahoo Inc. is still trying to finalize the mechanism [for selling its stake] and we are cooperating with them," Akira Kajikawa, Yahoo Japan's chief financial officer, said at a news conference Wednesday.
Yahoo Inc. owns nearly 35% of Yahoo Japan. Japanese mobile and Internet-service company Softbank Corp. owns 42%.