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BBG: SoftBank quietly sells another $2.2bn of its Alibaba stake

Hundred dollar bill. Falling money isolated background. American cash.

By LoadstarEditorial

16/07/2020

BLOOMBERG reports:

SoftBank Group Corp. quietly sold an additional $2.2 billion of its stake in Alibaba Group Holding Ltd. as part of the Japanese conglomerate’s fund-raising effort to pay down debt and buy back its own shares.

The deal, which includes a collar contract and call spread, is expected to be settled between May 2024 and June 2024. The details were disclosed on page 276 of SoftBank’s year-end financial filing released on June 25, but have not been previously reported. A SoftBank Group ...

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