Softbank invests $400 mil in E-Trade

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Japanese software and Internet company Softbank Corp. invested $400 million in online brokerage E-Trade Group July 10, to acquire 15.6 million new shares, representing a 27.2% interest in the start-up. The purchase price is $25.56 per share. Softbank also owns interests in several other Internet companies, including 31% of Yahoo!, 35% of GeoCities and 71% of Ziff-Davis, owner of the ZDNet site.

Copyright July 1998, Crain Communications Inc.

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