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Technology Stocks : Altaba Inc. (formerly Yahoo) -- Ignore unavailable to you. Want to Upgrade?

To: allen menglin chen who wrote (5630)	1/5/1998 8:29:00 AM
From: santhosh mohan	Read Replies (1) \| Respond to of 27307

Monday January 5, 7:55 am Eastern Time Company Press Release SOURCE: Yahoo!, Inc. SOFTBANK Makes Minority Investment in GeoCities Investment Reinforces GeoCities Relationship With Yahoo! NEWTON, Mass., Jan. 5 /PRNewswire/ -- SOFTBANK Holdings Inc. today announced that it is acquiring a minority equity investment in GeoCities, one of the Internet's largest and fastest growing communities of free personal home pages. The investment follows an earlier joint venture between SOFTBANK and GeoCities to service the Japanese market as well as a prior minority investment in GeoCities by a SOFTBANK venture affiliate. This investment is being made in conjunction with a minority investment in GeoCities by Yahoo! Inc. and a co-distribution agreement between GeoCities and Yahoo!, also announced today. SOFTBANK is purchasing its GeoCities shares valued at approximately $51 million through a combination of Yahoo! common stock, and cash proceeds from the sale of certain shares of Yahoo! common stock in the open market. Of the total investment, $25 million will be made directly in GeoCities. The balance will be used to purchase existing shares from current GeoCities shareholders. ''This is a strategic investment for SOFTBANK,'' said Ron Fisher, vice chairman of SOFTBANK Holdings Inc. ''It further strengthens the relationship between SOFTBANK, Yahoo! and GeoCities in an area of Internet virtual community that we believe is extremely important.'' Fisher added, ''The use of our Yahoo! shares in this transaction reflects our intention to support the business relationship between Yahoo! and GeoCities. After this transaction, SOFTBANK will hold approximately 30 percent of Yahoo!'s common stock currently outstanding, and will remain the largest shareholder in Yahoo!. Yahoo! continues to be the core holding for SOFTBANK's overall Internet strategy.'' The overall transaction is expected to be completed this month. Yahoo! plans to promptly register the resales of the Yahoo! shares transferred in the transaction on a registration statement to be filed early this month. SOFTBANK Holdings Inc. is the holding company for all of SOFTBANK Corporations' U.S.-based activities. Its major operating companies include Ziff-Davis, Kingston Technology Company, SOFTBANK Services Group, SOFTBANK Content Services and UT Starcom. SOFTBANK is the largest shareholder in Yahoo! Inc. and a minority investor in SOFTBANK Net Solutions and Cybercash Corp. Through its affiliated venture funds, SOFTBANK has made approximately 60 investments in leading Internet companies. NOTE: Yahoo! and the Yahoo! logo, are registered trademarks of Yahoo! Inc. All other names are trademarks and/or registered trademarks of their respective owners. SOURCE: Yahoo!, Inc. Heh, heh, heh! SOURCE: santhosh mohan

To: allen menglin chen who wrote (5630)	1/5/1998 10:10:00 AM
From: Don Westermeyer	Respond to of 27307

YHOO is more 6X more expensive than XCIT! If anything, I'd be a purchaser of XCIT to hedge a YHOO short. why not short e.g. EXCITE (XCIT), trading at around $30 with negative earning, instead?!