SoftBank to Sell Nearly All Its Stake in Alibaba - FT

Reuters2023-04-13

(Reuters) - SoftBank Group Corp has moved to sell almost all of its remaining shares in Alibaba Group Holding Ltd , the Financial Times reported on Wednesday citing regulatory filings it had analyzed.

The forward sales, which FT analyzed based on filings sent to the U.S. Securities and Exchange Commission, will eventually cut SoftBank's stake in the Chinese e-commerce group to just 3.8%, according to the report.

The Japanese group, led by billionaire founder Masayoshi Son, has sold about $7.2 billion worth of Alibaba shares this year through prepaid forward contracts, the report added.

Softbank and Alibaba did not immediately respond to Reuters' requests for comment.

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Comments

  • Kacudah
    2023-04-13
    Kacudah
    Analyse it carefully imho SVB and those banks exposed to tech failed. Softbank Vision fund prized asset is Alibaba so you can see what is coming if they don't exit first
  • Guavaxf30
    2023-04-13
    Guavaxf30
    Ah. This may explain why Baba shares fell so much last night. This beside the reading of another Fed interest rate hike spooking the overall market.  But what happened to the Super feel-good over the business split into 6?  So, from my experience, whenever stock prices jacks up tremendously like last week for Baba, it is usually good to sell.  And conversely, when the opposite happens, buy in. Even more when the opposite happens in a very much faster time like for Baba last night. For me, Baba is a strong buy now. Just as Tesla was a strong sell early yesterday. But please note it is only my own reading.
    • Guavaxf30: 
      One more thing. Of late, Soft Bank, like Ark Innovations, have been pretty poor in their investment calls.
      Being a bit cheeky, my strategy of late has been, whatever these two do, I do the opposite. Haha.
    • NVJV: 
      next
    • WZiYa: 
      good
    • JamesfromSG: 
      👌🏼
    • Suzan874: 
      Ok
  • LSLi
    2023-04-13
    LSLi
    Wow
  • runningjames
    2023-04-13
    runningjames
    Oh...
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