New entity to develop mobile Internet portal; operations to start later this month.
Yahoo Japan Corp. said Tuesday that it will set up a joint venture later this month with India’s Bharti Group to develop an internet portal and other services for mobile phone users in the Indian market.
The joint venture will begin operations later this month. Yahoo Japan is a unit of the Japanese mobile phone and Internet service company Softbank Corp, which holds a 42% stake. Yahoo Inc. of the U.S. also holds a one-third stake.
The core firm of Bharti Group, Bharti Enterprises, is the parent of Bharti Airtel Ltd., India’s largest mobile services company by users and sales.