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SoftBank Group sets price in telco stake sale worth $11.7 billion

SoftBank Group said late last month it would slash its stake in Japan's third-biggest wireless carrier to 40%, part of a wave of asset sales by the group as it builds up cash

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SoftBank | Masayoshi Son

Reuters  |  Tokyo 

Softbank
Seperately on Monday the group announced the sale of chip designer Arm to Nvidia Corp in a deal that will raise up to $40 billion | Photo: Reuters

Group Corp said on Monday it set the offering price for the sale of shares in wireless carrier Corp at 1,204.50 yen per share, giving the sale a value of 1.24 trillion yen ($11.7 billion) including over-allotment.

Group said late last month it would slash its stake in Japan's third-biggest wireless carrier to 40%, part of a wave of asset sales by the group as it builds up cash.

Seperately on Monday the group announced the sale of chip designer Arm to Nvidia Corp in a deal that will raise up to $40 billion.

First Published: Tue, September 15 2020. 01:44 IST
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