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Hedge fund Tiger Global takes $1 billion stake in Softbank - source

Hedge fund Tiger Global takes $1 billion stake in Japan's Softbank Group

Reuters  |  LONDON 

US hedge fund Tiger Global has built a stake worth more than $1 billion in Japan's Softbank Group which it considers to be under-valued, a source with direct knowledge of the matter said on Wednesday. Tiger, which runs around $22 billion in assets, told investors in a letter that tech and telecoms conglomerate Softbank's stock price had not increased over the last five years, even though its holding in Chinese online giant Alibaba had added more than $90 billion in value, the source said. Softbank's purchase of investment group Fortress and the launch of its $100 ...

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First Published: Wed, July 11 2018. 23:33 IST