Yahoo: Two more partnerships

Posted Jun 29th 2006 1:58PM by Melly Alazraki
Filed under: Deals, Products and Services, Industry, Competitive Strategy, Yahoo! (YHOO)

One:
Today Yahoo Japan Corp. (owned on-third by Yahoo Inc) announced it will spend 25.8 billion yen ($221 million) for a 40 percent stake in Japan Net Bank. Japan Net Bank is an online unit of Sumitomo Mitsui Financial Group.

Both Yahoo Japan and the SMFG group will directly invest in Japan Net Bank rather than a new holding company, owning each 40% after the transaction in September 29. This will enable Yahoo Japan to offer its users banking and settlement services.

Two:
Hutchison Wampoa Co Ltd's 3 Group of mobile telecom operators, said today it has signed an agreement with Yahoo Inc (YHOO) to provide Yahoo's portfolio of mobile services to 3 worldwide.

Under the terms of the agreement, 3 will offer a slew of Yahoo's Internet services such as Yahoo Search and Yahoo Messenger, on 3's networks around the world. At first, services will launch in the U.K. this summer, with the intention to launch thereafter in 3's key European and Asia-Pacific markets.

Tags: yahoo, yahoo japan, YahooJapan, yhoo