SoftBank Group flogs 22% of SoftBank Japan coz of coronavirus
Despite raising $41 billion already this year, Softbank reckons it needs a bunch more cash to protect itself from the effects of a COVID-19 resurgence.
Despite raising $41 billion already this year, Softbank reckons it needs a bunch more cash to protect itself from the effects of a COVID-19 resurgence.
Shareholders in Japanese tech conglomerate SoftBank are having to come to terms with the fact that it’s now effectively an investment fund.
The official line is the move will allow Arm to give more attention to its core semiconductor business, but it will also allow financially strained parent-company Softbank to sell a slice.
Japanese telecoms operator Softbank has confirmed it is exploring options to offload its stake in T-Mobile US as COVID-19 weighs very heavily on other investments.
Japanese conglomerate SoftBank had a nightmare quarter thanks to massive losses at its Vision Fund investment arm and it might need to raise a few yen quickly.
COVID-19 is causing waves across the world, and now Japanese telco Softbank has warned the pandemic might well be the cause of ¥1.8 trillion ($17 billion) loss in the investment unit.
Not even the end of its relationship with Deutsche Telekom could dampen spirits at the Softbank party, as the team reported $3.46 billion in profit, up 21% year-on-year, for the last quarter.
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