Pummeled by losses on its startup bets, SoftBank has said it would prioritise financial discipline before seeking the right time to go on the offensive with investments. Investors are also speculating if the company will launch another buyback program.
SoftBank Group Corp. is moving to sell the majority of its stake in Chinese internet giant Alibaba Group Holding Ltd., the Financial Times reported, the latest sign of long-time China investors lowering their exposure there.
The Japanese technology investor has sold more than US$7 billion ($9.29 billion) in Alibaba shares this year through prepaid forward contracts, after selling US$29 billion last year, according to the newspaper. The contracts give SoftBank the option to buy the shares back, but the group has settled previous deals by handing over the stock, the Financial Times reported.
