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Softbank CEO backs Microsoft's offer

Masayoshi Son, president of Japanese telecommunications giant Softbank, announces the company's earnings during a press conference in Tokyo yesterday. PHOTO: AFP

Softbank Corp chief executive officer Masayoshi Son said that Microsoft Corp, which made a US$44.6 billion unsolicited bid for Yahoo Inc, could boost the value of the Yahoo brand.

"If done properly, Yahoo brand value can increase as a result," Son told reporters in Tokyo yesterday. Yahoo "management should choose the way that doesn't reduce value."

Softbank, the third-largest Japanese cellphone operator, owns 3.9 percent of Yahoo, according to the Tokyo-based firm's Web site.

Softbank owns 41 percent of Yahoo Japan Corp, with Yahoo holding 33 percent, according to Bloomberg data..

Son said he had no intention of selling Yahoo Japan shares.
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