Yahoo Japan Slumps After Shareholder Signals Stock Sale
- Shares fall by the most in 10 months in Tokyo trading
- Yahoo Japan says buyback among options being considered
Yahoo Japan Corp. headquarters in Tokyo, Japan.
Photographer: Tomohiro Ohsumi/Bloomberg
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Yahoo Japan Corp. shares fell by the most in 10 months after Altaba Inc., its second-largest shareholder, outlined plans to sell its stake in the country’s most popular web portal.
The stock fell as much as as 9.6 percent, the most since April 2017, after Altaba Chief Executive Officer Thomas McInerney said in a conference call that the company is “moving to an active monetization mode” on its Yahoo Japan shares. The potential sale of shares will start after the end of the current fiscal year on March 31. Yahoo Japan spokesman Yohei Yamaguchi said a buyback of its shares continues to be among its options, all of which are being considered.