Accord is within reach for SoftBank and Elliott

SoftBank said on Feb. 12 that it generated 7 trillion yen of revenue during the nine months ending on Dec. 31, 2019. Its net asset value was $228 billion as of Feb. 12, according to Chairman and Chief Executive Masayoshi Son.

Elliott Management has amassed a nearly $3 billion stake in SoftBank Group and is discussing ways it could boost the Japanese company’s value, Reuters reported on Feb. 6, citing unnamed sources. Elliott is discussing with SoftBank the possibility of improving the decision-making process at the affiliated Vision Fund and possible share buybacks, Reuters reported. The hedge fund firm’s stake was first reported by the Wall Street Journal.

SoftBank shares rose 12% on Feb. 12, helped by a U.S. federal judge’s approval of a merger between SoftBank’s American telecom group Sprint and rival T-Mobile US.

Source: Loan Digest (loandigest.net)

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