Softbank Told to Cast an Eye Over Yahoo

yahoo logo

Japanese phones and online giant Softbank has been in the news this week over reports — yet to be confirmed by the company itself — about deals to buy DreamWorks Animation or Legendary Pictures. 

Now add another possible acquisition to the list: Yahoo!

Geneva-based investment advisory firm, Alternative Investment Management and Research has send a letter to Softbank chairman Masayoshi Son and Yahoo CEO Marissa Mayer urging the former to buy the latter’s company. 

In the letter, first sourced by Bloomberg, managing director Albert Saporta said: “We think that Yahoo! would be far better off under the stewardship and vision of Mr. Son than under Yahoo’s current top management…We would rather have Mr. Son investing Yahoo’s cash hoard.” 

The hoard in question is the reported $8.27 billion in pre-tax earnings Yahoo! gained from selling a 6% stake in Chinese e-commerce giant Alibaba, following its public offering earlier this month. Yahoo! still owns a 15% share ofAlibaba.

Meanwhile, Softbank owns a 32% stake in the Chinese company, as well as a 48% chunk of Yahoo Japan.  

Neither Yahoo! nor Softbank have commented on the letter.  

Filed Under:

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety