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Yahoo Japan is to launch a bid for the online retailer Zozo: NHK

FILE PHOTO: A photo illustration shows the Yahoo logo on a smartphone in front of a cyber-code for the keypad on the 15th of December 2016. REUTERS/dado Ruvic/Illustration

TOKYO (Reuters) – Internet and e-commerce business, Yahoo Japan Corp. will launch a tender offer for an online clothing retailer Zozo Inc., the public broadcaster NHK said on Thursday.

Zozo-founder Yusaku Maezawa has been prepared for the sale of their shares in the tender offer, NHK said, citing sources. The deal could be worth “hundreds of billions of yen”, NHK said.

Yahoo Japan is nearly one-third owned by the Japanese SoftBank telecom Corp. (a). Zozo has a market value of around 660 billion yen ($6.1 billion), according to the Refinitiv of the data.

Reporting by Ritsuko Ando; Editing by David Dolan

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