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SoftBank to book $34 billion gain from Alibaba shares

08/10/2022

Less than a minute

2022.08.10 12:26

SoftBank to book $34 billion gain from Alibaba shares
FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato

TOKYO (Reuters) – SoftBank Group Corp on Wednesday said it will book a gain of 4.6 trillion yen ($34.08 billion) after settling prepaid forward contracts using shares in Alibaba (NYSE:BABA) Group Holding, reducing its stake to 14.6% from 23.7%.

($1 = 134.9700 yen)

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08/10/2022

Less than a minute