Photo: Associated Press
Yahoo is still in a state of flux, but according to AllThingsD reporter Kara Swisher, it’s very close to making a deal to rid itself of its Yahoo Japan stake.Its longtime partner Softbank will buy the stake — valued at $6.4 billion — from Yahoo.
This move has been reported since March, but maybe this time it’s actually going to happen.
Back in March, here’s how the deal was being discussed:
Yahoo wants to avoid taking a huge tax hit on the sale, so it is exploring two alternatives: An asset swap, in which Softbank takes Yahoo stock in exchange for the Yahoo Japan stock, and a “tracking stock,” in which Yahoo shareholders can be free to sell off the Yahoo Japan stock without a triggering a tax event for the company.