Ron Burgundy Posted June 15, 2016 Share Posted June 15, 2016 SoftBank Group Corp said on Wednesday it expects to book profit of 200 billion yen to 250 billion yen ($1.9 billion to $2.4 billion) this financial year from the sale of shares in Alibaba Group Holding Ltd. The Japanese telecommunications company earlier this month said it planned to sell $10 billion worth of Alibaba shares to help cut interest-bearing debt, reducing its stake in the Chinese e-commerce firm to around 27 percent from 32.2 percent. The expected profit will come from the sale of $3.4 billion worth of Alibaba shares. The sale of Alibaba shares would be a first for SoftBank since the Japanese firm's initial investment in 2000. View the full article Quote Link to comment Share on other sites More sharing options...
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