SoftBank sees up to $2.4 billion profit on Alibaba share sale this business year
June 15, 2016 8:24 am
Japanese telecommunications company SoftBank Group Corp on Wednesday said it is expecting to gain between 200 billion yen and 250 billion yen ($1.9 billion-$2.4 billion) in profit this fiscal year on its Alibaba Group Holding shares sale.
SoftBank, the third-biggest Japanese wireless carrier, said it plans this month to sell Alibaba shares worth $10 billion to cut interest-bearing debt, reducing its stake in Alibaba from 32.2 percent to 27 percent.
The material has been provided by InstaForex Company – www.instaforex.com
Japanese telecommunications company SoftBank Group Corp on Wednesday said it is expecting to gain between 200 billion yen and 250 billion yen ($1.9 billion-$2.4 billion) in profit this fiscal year on its Alibaba Group Holding shares sale.
SoftBank, the third-biggest Japanese wireless carrier, said it plans this month to sell Alibaba shares worth $10 billion to cut interest-bearing debt, reducing its stake in Alibaba from 32.2 percent to 27 percent.
The material has been provided by InstaForex Company – www.instaforex.com
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