Tokyo – Yahoo (NASD: YHOO) is in "advanced talks" to sell off
its 35% stake in Yahoo Japan — estimated to be worth $8 billion — to joint
venture partner Softbank, Reuters reports.
Such a deal could reportedly come
within a few weeks, sources told Reuters.
Softbank, which holds 42% of Yahoo
Japan, said in a statement that it is not in talks with Yahoo and has no
intention to buy out the company’s stake.
The freeing up of some $8 billion by Yahoo would be a welcome move to investors, analysts told Reuters.