Yahoo has announced that it plans to buy complete ownership of its European and Korean portals. The total purchase price is $500 million.


Yahoo has announced that it plans to take complete ownership of its European and Korean portals. The total price is $500 million.

Yahoo! said it would buy the 30% stake in the United Kingdom, Germany and France belonging to Softbanks Holdings Ltd. The portal also plans to buy Yahoo Korea’s 33% stake that’s owned by Sofbank Corp, Softbank Korea Corp and Yahoo Japan Corp.

Terry Semel, Chairman of Yahoo, said, “This agreement to purchase the remaining shares not already owned by Yahoo in Europe and Korea demonstrates the confidence we have in our international businesses” [Source]

Yahoo expects to complete the deal by the end of 2005.

Sharing is caring