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Yahoo Japan to buy online retailer Zozo, outpace Rakuten, Amazon in sales volume

Friday 13 September 2019 | 09:46 CET | News
SoftBank Group's subsidiary Yahoo Japan has announced it will launch a tender offer for the common shares of Japanese online fashion retailer Zozo. Yahoo Japan's board of directors has also decided to execute a capital and business alliance agreement with Zozo. Yahoo Japan plans to acquire a 50.1 percent stake in Zozo for USD 3.7 billion. Zozo founder Yusaku Maezawa is selling most of his 36.8 percent stake. He has also resigned from his position as Zozo CEO, effective immediately, to focus on personal ambitions including traveling into space, The Wall Street Journal reports.

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Categories: Internet
Companies: Amazon / Softbank / Yahoo / Yahoo Japan
Countries: Japan
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