Recruit shareholders plan to sell some $4 billion in shares (Reuters)

Shareholders in Recruit Holdings Co. Ltd, one of the world’s largest staffing firms, plan to sell $4 billion in shares in an effort to unwind cross-shareholdings, Reuters reports. One of the sellers, advertising agency Dentsu, plans to record a gain of $1.76 billion on the sales of its portion of the shares. Japanese companies tend to hold stakes in one another to thwart bids from outsiders, but the practice has received criticism, Reuters reports.