Altaba Announces Proposed Sale Of Shares Of Yahoo Japan - Quick Facts

(RTTNews) - Altaba Inc. (AABA) announced an agreement with certain managers regarding the proposed sale of an undetermined number of shares of Yahoo Japan Corp. common stock that it currently holds in connection with a proposed offering of the shares. Altaba currently holds 1,363,531,700 shares of Yahoo Japan common stock. The company said the number of shares to be sold, the sale price are expected to be determined on September 11, 2018.

In connection with the offering, Altaba has agreed with the managers not to sell the common stock of Yahoo Japan during the period ending 120 days after the execution date of the agreement without the prior written consent of the managers.