Yahoo Inc. has repurchased 11.1 million shares of its common stock from Softbank America Inc. for approximately $100 million.
Earlier this week, Softbank sold off 30 million shares of Yahoo common stock, cutting its stake in Yahoo to 9% from 14%.
According to news reports, the sales were part of Softbank’s strategy to raise about $270 million to help cut debt and finance a broadband venture.
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