"The objective of the fund is to facilitate the continued acceleration of the AI revolution through investment in market-leading, tech-enabled growth companies," the Japanese tech conglomerate said in a statement, adding it was still talking to more potential investors and that the fund was expected to grow.
FRANKFURT: SoftBank Group Corp has agreed to invest about €900mil (US$1bil) in convertible bonds of Wirecard AG that could give the Japanese conglomerate a minority stake in the beleaguered German Internet payments firm.
The five-year securities will allow an affiliate of SoftBank to acquire Wirecard shares at €130 each, Munich-based Wirecard said in a statement yesterday. That’s about 5% more than the stock’s close on Tuesday in Germany. The companies also agreed on a strategic partnership for digital payments. Bloomberg News earlier reported that SoftBank could acquire 5% of Wirecard, whose American depositary receipts jumped on the news.
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