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May 12, 1997updated 05 Sep 2016 12:09pm


By CBR Staff Writer

Softbank Corp says it will cooperate with CyberCash Inc to set up electronic commerce networks in Japan. The two firms plan to launch services by the end of next year and plan to enlist equipment makers, banks and consumer credit companies in the venture. Softbank, the second largest shareholder in CyberCash, expects to acquire a 29% stake in the venture. It aims to eventually raise the stake to 40%, the same as CyberCash. Other firms will be invited into the venture by the end of June.

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