Online investing service E*Trade Group announced it has completed the sale of $400 million of common stock to Softbank, one of Japan's largest software distributors. Softbank purchased 15.6 million newly issued E*Trade shares at $25.56 per share, acquiring a 27.2 percent stake in the online investing service. Softbank also owns 31 percent of Web portal Yahoo and 35 percent of online community GeoCities.
Online investing service E*Trade Group announced it has completed the sale of $400 million of common stock to Softbank, one of Japan's largest software distributors. Softbank purchased 15.6 million newly issued E*Trade shares at $25.56 per share, acquiring a 27.2 percent stake in the online investing service. Softbank also owns 31 percent of Web portal Yahoo and 35 percent of online community GeoCities.
Discuss: Short Take: Softbank buys 27% share in E*Trade
Be respectful, keep it clean and stay on topic. We delete comments that violate our policy, which we encourage you to read. Discussion threads can be closed at any time at our discretion.