Yahoo buys back 11 million shares

Yahoo has purchased roughly 11 million of its stock back from Japanese tech conglomerate Softbank, the company said Thursday. Yahoo paid Softbank $100 million for the stock. Softbank said it will use the money to finance its broadband operations in Japan.

In a separate announcement, Softbank said it has sold a total of 30 million shares of Yahoo common stock for about $270 million through a combination of private and open market transactions. Softbank now controls about 7 percent of Yahoo's stock.