SoftBank Group Corp unveiled a series of transactions on Monday to divest more than US$21 billion worth of stock in U.S. wireless carrier T-Mobile ...
SoftBank Group Corp unveiled a series of transactions on Monday to divest more than US$21 billion worth of stock in U.S. wireless carrier T-Mobile US Inc, as it seeks funding for a US$41 billion share buyback and debt reduction plan.
SoftBank's shares have more than doubled since the middle of March, despite the economic uncertainty fueled by the COVID-19 pandemic, as CEO Masayoshi Son moves to shed or trim its stakes in other companies such as Alibaba Group Holding.While the divestments have bankrolled a string of share buybacks, delighting investors including hedge fund Elliott Management Corp, they have raised concerns among credit ratings agencies about the Japanese conglomerate's financial standing.
Many of the T-Mobile shares divested by SoftBank were acquired by T-Mobile itself, which will in turn sell them on to the open market and private investors. SoftBank Chief Operating Officer Marcelo Claure will acquire more than US$500 million of T-Mobile stock, according to regulatory filings.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SoftBank to sell US$21 billion in T-Mobile sharesJapanese tech investment behemoth SoftBank Group said Tuesday it will sell T-Mobile shares worth over $21 billion as it sheds assets to shore up ...
Read more »
SoftBank to sell US$21 billion in T-Mobile sharesJapanese tech investment behemoth SoftBank Group said Tuesday it will sell T-Mobile shares worth over $21 billion as it sheds assets to shore up ...
Read more »
T-Mobile launches stock offering to facilitate SoftBank's stake saleT-Mobile on Monday launched a stock offering to facilitate SoftBank Group Corp's plan to sell a portion of its stake in the telecom operator.
Read more »
T-Mobile launches stock offering to facilitate SoftBank's stake saleNEW YORK: T-Mobile on Monday (Jun 22) launched a stock offering to facilitate SoftBank Group Corp's plan to sell a portion of its stake in the ...
Read more »
American Airlines seeks to raise US$1.5 billion in stock, convertible notes sale: Bloomberg NewsAmerican Airlines Group Inc is planning to raise around US$1.5 billion by selling shares and convertible notes, as the airline shores up ...
Read more »
American Airlines seeks to raise US$1.5b in stock, convertible notes saleNEW YORK: American Airlines Group Inc is planning to raise around US$1.5 billion by selling shares and convertible notes, as the airline shores up ...
Read more »