Challenging times: SoftBank’s share price has been hammered by investor scepticism over the outlook for CEO Masayoshi Son’s bets on startups like WeWork and Uber. — Reuters
TOKYO: SoftBank Group Corp said on Monday it is selling or monetising up to 4.5 trillion yen (US$41bil) in assets to buy back two trillion yen of its shares and reduce debt, sending its stock soaring to its biggest daily gain in nearly 12 years.
The share buyback will be in addition to the up to 500 billion yen buyback announced earlier this month, in the Japanese tech conglomerate’s biggest ever repurchase.
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