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General

Loeb buys stake in SoftBank worth USD 1 bln

Friday 22 November 2013 | 11:19 CET | News
Hedge fund investor Daniel Loeb has bought bought a stake in SoftBank worth USD 1 billion, the Financial Times reported. Speaking at the Robin Hood Investors Conference in New York, Loeb said he followed up his share purchase in Softbank with a meeting in Japan with SoftBank founder Masayoshi Son. Loeb said he was attracted by SoftBank's stakes in Sprint and Alibaba. Loeb, who put more than USD 1 billion into amassing a Sony stake, proposed a partial spin-off of Sony's entertainment group. The idea was rejected by the company's board.

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Categories: General
Companies: Softbank / Sony / Sprint
Countries: Japan / United States
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