SoftBank Plans to Sell $14 Billion Sale of Alibaba Shares [Yahoo! Finance News]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: Yahoo! Finance News
) -- SoftBank Group Corp. plans to sell about $14 billion in shares of Chinese e-commerce giant Alibaba Group Holding Ltd. as part of an effort to raise $41 billion to shore up its businesses battered by the pandemic, according to people with knowledge of the matter. The Japanese conglomerate is considering raising the remainder of the money by selling a stake in SoftBank Corp., its domestic telecommunications arm, as well as part of its stake in Sprint Corp. following its merger with T- US Inc., said one of the people, who requested anonymity discussing private transactions. The Alibaba stake sale could range from as little as $12 billion to as much as $15 billion, the people said. Alibaba’s American depositary receipts fell as much as 2% in after-hours trading after ’s story published on Monday. Masayoshi Son, the founder of SoftBank, announced the sale plans Monday in Tokyo, though he didn’t specify which assets would be sold. He’s eager to generate funds to buy back shares and sla
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Sec Filings
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