SoftBank plans to sell $7.9b of Alibaba

The announcement caught stock analysts by surprise but is likely to help the Japanese firm reduce leverage.

SoftBank plans to sell $7.9b of Alibaba

Japan’s SoftBank said on Wednesday it would sell at least $7.9 billion worth of its shares in Chinese e-commerce giant Alibaba to reduce its leverage.

SoftBank’s chairman and CEO, Masayoshi Son, will remain a board director of Alibaba, and Alibaba’s executive chairman, Jack Ma, will remain a director of the Japanese firm.

The partial sale of its 32.2% stake would be the first time Alibaba’s biggest shareholder has sold...

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