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Business deals

SoftBank Group to raise $4.8 billion in Yahoo transaction

Mobile unit to boost ownership in deal hoped to 'increase corporate value'

SoftBank Corp. will buy new shares in Yahoo for 456.5 billion yen to increase its stake from 12.08% to 44.64%   © Reuters

TOKYO -- Japanese technology conglomerate SoftBank Group on Wednesday said it would sell its entire stake in Yahoo Japan for 526.5 billion yen ($4.8 billion), in a transaction that effectively transfers ownership to its mobile unit SoftBank Corp. 

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