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Technology Stocks : Softbank Group Corp -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (5193)	6/2/2000 12:39:00 AM
From: Hans U. Tschanz	Read Replies (1) \| Respond to of 6018

Softbank Downplays Yahoo Share Sales As Portfolio Shuffle TOKYO (Dow Jones)--Softbank Corp. (9984) said Thursday its U.S. holding company has lowered its stake in Yahoo! Inc. (YHOO), but said the move was simply portfolio reshuffling. Softbank America Inc. said it sold around 3.156 million shares in Yahoo!, worth $350 million, lowering its stake in the company to 22.58%, from 23.18%. The company said it expects to generate profits of $336 million, or Y36.3 billion, from the sales. Softbank America said in a statement that it intends to maintain its status as Yahoo!'s biggest shareholder, regarding the U.S. online portal company as a cornerstone of its Internet investment strategy.