SoftBank soars 10% after stock swap deal with Deutsche Telekom

SoftBank Group Corp. surged the most in nine months after unveiling a deal to acquire 4.5% of Deutsche Telekom AG and sell part of its stake in T-Mobile US Inc. to the German telecommunications carrier.

The Japanese investment giant announced a complicated deal under which it will swap T-Mobile shares for an initial 225 million shares of Deutsche Telekom. Separately, the telecom operator will then sell T-Mobile Netherlands for $6.1 billion, using $2.4 billion of those proceeds to pick up another 20 million T-Mobile shares, the companies said in a statement.

SoftBank soared 9.9%, its most since December. Founder Masayoshi Son, who