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US fund Tiger Global builds stake worth $1 billion in SoftBank Group

Tiger Global based its SoftBank investment decision on SoftBank's purchase of US investment group Fortress

Reuters  |  Tokyo | Singapore 

US hedge fund Tiger Global has built a stake worth over $1 billion in SoftBank Group Corp as it considers the Japanese firm undervalued, a source with direct knowledge of the matter said, driving SoftBank shares up as much as 6.8 percent. The bump added nearly $6 billion to SoftBank's market capitalization, narrowing the gap between the company's limited valuation as a conglomerate and the valuation that the company says it deserves, thanks to its rich investments. The Japanese tech and telecoms firm, which holds a nearly 30 percent stake in Chinese e-commerce giant ...

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First Published: Fri, July 13 2018. 03:19 IST