Yahoo Japan bids for control of fashion e-tailer Zozo for $3.7 billion

TOKYO (Reuters) - Yahoo Japan Corp on Thursday offered to buy the majority of online fashion retailer Zozo Inc for 400 billion yen (3 billion pounds), to better compete against rivals Amazon.com Inc and Rakuten Inc .As part of the offer, Zozo founder Yusaku Maezawa has agreed to sell a stake of around 30%, leaving him with about 6%. He will also step down as chief executive of the retailer, which has struggled of late following a series of botched initiatives.Yahoo Japan's offer of 2,620 yen..