By Josh Beckerman 
 

Altaba Inc. (AABA), which emerged after Yahoo Inc. sold its core internet business to Verizon Communications Inc. (VZ), said it will sell up to 613.9 million shares of Yahoo Japan Corp. (4689.TO) to SoftBank Group Corp. (9984.TO) unit SoftBank Corp. for up to roughly $2 billion.

Altaba and SoftBank have terminated their joint venture agreement for Yahoo Japan.

Altaba's previously announced self-tender remains open.

After the sale of Yahoo's web assets, Altaba owned Yahoo's stakes in Alibaba Group Holding Ltd. (BABA) and Yahoo Japan, and planned to eventually sell down those holdings.

 

Write to Josh Beckerman at josh.beckerman@wsj.com

 

(END) Dow Jones Newswires

July 09, 2018 19:55 ET (23:55 GMT)

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