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Internet business investor Softbank Corp. said Thursday it has sold a part of its stake in Internet portal Yahoo! Inc. and wireless equipment maker UTStarcom Inc., both of the United States, to reduce its interest-bearing liabilities and expand its broadband operations.

The selloff of 30 million Yahoo! shares, worth $270 million, and 6 million UTStarcom shares, worth $72 million, was made by Softbank America Inc., a wholly owned unit of the Tokyo-based firm, it said.

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