Internet
ò Livedoor Co. announced its decision to sell its financial arm Livedoor Financing Holdings to Advantage Partners, an investment fund, despite earning around 70 percent of the group's total profits. Sources said that the Livedoor group would try to work on its recovery by focusing on its Internet portal services. Industry sources said the company plans to sell its shares in Livedoor Financial Holdings to Advantage Partners for about 17 billion yen US$146.7 million. The sources said under the deal, the new owners will probably have to shoulder another 30 billion yen US$259 million in existing debts. In a separate development, the six-member board of Livedoor Co. revealed that...
¬ Haymarket Media Limited. All rights reserved.
