SoftBank to Sell Alibaba Stock
World Economy

SoftBank to Sell Alibaba Stock

SoftBank Group Corp said it will sell at least $7.9 billion of shares in Alibaba Group Holding Ltd—a move that will cut the Japanese firm’s debt amid worries about losses at its US telecoms unit Sprint Corp, Reuters reported. The transaction marks the first sale of shares in the Chinese e-commerce giant by its largest shareholder since SoftBank began investing in the company in 2000, and will reduce its stake to around 28% from 32.2%. The two companies said they would maintain a strategic partnership.

Short URL : http://goo.gl/3Yo1Bo
  1. http://goo.gl/OImlR7
  • http://goo.gl/ztDm4N
  • http://goo.gl/Te0Gi4
  • http://goo.gl/leH9p9
  • http://goo.gl/Fu7rsP

You can also read ...

ECB President Mario Draghi (L) and US fed chair Jerome Powell at the ECB Forum on Central Banking in Sintra, Portugal, June 20.
The world’s most-powerful central bankers warned that...
Consumer prices rose just 0.1% in May, down from a 0.3% gain in April.
Canada’s economy showed unexpected weakness in the second...
Brazil CB Holds Rate Steady
For the second consecutive time, the Central Bank of Brazil...
China Trade Surplus Shrinks
China’s trade surplus shrank markedly in the first five months...
Inflation rate forecast for the full year is averaged around 3.1%.
Saudi Arabia is so intent on changing its identity that today’...
Ukraine Shadow Economy Drops to 31% of GDP
Shadow economy in Ukraine dropped by 4% in 2017, to 31% of GDP...
Turkey Sees 22% Yearly Decline in FDI
Turkey attracted some $3.1 billion in net international direct...
IMF to Lower Eurozone Growth Projections
The International Monetary Fund will downgrade growth...