Altaba announces agreement for sale of some Yahoo Japan shares [MarketWatch]
ALTABA INC (AABA)
US:NASDAQ Investor Relations:
altaba.com/investor-relations
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Source: MarketWatch
Altaba announces agreement for sale of some Yahoo Japan shares Altaba Inc. AABA, -1.57% on Monday morning announced that it had reached an agreement with certain managers for the proposed sale of Yahoo Japan shares. The amount of shares to be sold is "undetermined," according to a release, and they are expected to be delivered on Friday, Sept. 14. Earlier this year, Altaba's chief executive officer said that the company was "moving to active monetization mode on our Yahoo Japan stake." Altaba shares are down 2.1% in Monday morning trading, while Alibaba Group Holding Ltd. BABA, -2.93% shares are down 3.5% following the announcement that founder Jack Ma plans to step down as executive chairman in a year. Altaba's stock is flat over the past year, as the S&P 500 SPX, +0.27% has climbed 17%. Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.
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