SoftBank to Book US$ 34 Billion Gain by Cutting Alibaba Stake to 14,6%
Rabu, 10 Agustus 2022 | 18:05 WIB
KONTAN.CO.ID - TOKYO. SoftBank Group Corp on Wednesday said it will book an estimated gain of 4,6 trillion yen (US$ 34,08 billion) on settling prepaid forward contracts using shares in Alibaba Group Holding, reducing its stake to 14,6% from 23,7%.
SoftBank on Monday booked a record quarterly net loss due to sliding valuations at its Vision Fund investment arm, with Chief Executive Masayoshi Son pledging to further reduce investment activity and cut costs.
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