Report: Softbank Asset Sales to Include Selling Billions in Alibaba Stock
Softbank (OTC: SFTBY) is finally considering selling a portion of its massive stake in Alibaba (NYSE: BABA) as part of its plan to raise $41 billion via asset sales.
Citing people with knowledge of the matter, Bloomberg reports that Softbank intends to sell around $14 billion of its shares in Alibaba, the Chinese eCommerce giant. Sources indicate that Softbank will raise anywhere from $12 billion to $15 billion by selling some of its $120 billion stake. It's not clear over what period Softbank will sell shares of Alibaba.
IMAGE SOURCE: GETTY IMAGES.
Source Fool.com