2020-03-23 19:21
IndustrySoftBank to sell up to $41 billion
(Reuters) - SoftBank Group Corp (T:9984) said on Monday it is selling up to 4.5 trillion yen ($41 billion) in assets to buy back another 2 trillion yen of its shares and reduce debt.
The share buyback, which will be the Japanese tech conglomerate's biggest ever repurchase, will be in addition to the up to 500 billion yen buyback announced earlier this month and comes amid pressure from activist hedge fund Elliott Management to improve shareholder returns.
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SoftBank to sell up to $41 billion
Philippines | 2020-03-23 19:21(Reuters) - SoftBank Group Corp (T:9984) said on Monday it is selling up to 4.5 trillion yen ($41 billion) in assets to buy back another 2 trillion yen of its shares and reduce debt.
The share buyback, which will be the Japanese tech conglomerate's biggest ever repurchase, will be in addition to the up to 500 billion yen buyback announced earlier this month and comes amid pressure from activist hedge fund Elliott Management to improve shareholder returns.
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