SoftBank is reportedly reducing its exposure to China by selling almost all of its remaining shares in Alibaba, raising cash as its tech investments suffer from market downturns. The Japanese group has already sold around $7.2 billion worth of Alibaba shares this year, following a record $29 billion sale in 2020. Regulatory filings suggest that the sale will eventually cut SoftBank’s stake to just 3.8%. Masayoshi Son, the billionaire founder leading the Japanese investor, once owned as much as 34% of Alibaba. This move comes as Softbank plans a major listing of UK chip designer Arm to recover from a series of failed investments and unprecedented losses. Meanwhile, Alibaba is undergoing a reorganisation to split into six separate entities, and Softbank is pulling back from the company.
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