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Altaba announces agreement for sale of some Yahoo Japan shares

Altaba Inc. AABA, -1.96% on Monday morning introduced that it had reached an settlement with positive managers for the proposed sale of Yahoo Japan stocks. The amount of stocks to be sold is "undetermined," in line with a unencumber, and they're anticipated to be delivered on Friday, Sept. 14. Earlier this yr, Altaba's leader govt officer mentioned that the company was once "moving to active monetization mode on our Yahoo Japan stake." Altaba stocks are down 2.1% in Monday morning trading, while Alibaba Group Holding Ltd. BABA, -Three.37% stocks are down Three.5% following the announcement that founder Jack Ma plans to step down as govt chairman in a yr. Altaba's inventory is flat over the last yr, as the S&P 500 SPX, +zero.38% has climbed 17%.

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