Softbank to sell 5% stake in Japanese telecom operator

News General Japan 21 MEI 2020
Softbank to sell 5% stake in Japanese telecom operator

Softbank Group announced plans to sell a 5 percent stake in its Japanese telecom operator Softbank. This is part of the investment company's plan to raise JPY 4.5 trillion from asset sales in order to buy back its shares and reduce debt.

The sale of 240 million shares in Softbank Corp will reduce the group's holding in the operator to 62 percent from 67 percent. At the current share price this would result in gross proceeds of around JPY 330 billion. Softbank aims to complete the sale by 26 May. 

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