Friday, 26 February 2021

Fears of second COVID-19 wave see SoftBank sell $12.5bn shares in telco unit

by Harry Baldock, Total Telecom
Friday 28 August 20

The group’s push to raise money to pay off debt and buy back shares has been relentless in recent months, but it seems the process is far from over

As a group, SoftBank has been hit hard by the coronavirus pandemic. Many of their investments, such as into the hotel chain Oyo, have seen a dramatic loss in value during the crisis, leaving SoftBank in something of a crisis of its own. Back in March, CEO Masayoshi Son began a $41 billion programme of asset sales to help dramatically reduce its debt and buy back shares…

As a group, SoftBank has been hit hard by the coronavirus pandemic. Many of their investments, such as into the hotel chain Oyo, have seen a dramatic loss in value during the crisis, leaving SoftBank in something of a crisis of its own. Back in March, CEO Masayoshi Son began a $41 billion programme of asset sales to help dramatically reduce its debt and buy back shares…

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