SoftBank (SFTBY) Reportedly Selling Two-Thirds Of T-Mobile (TMUS) Stake For About $20 Billion

By Annie Baker ● June 17, 2020
  • SoftBank Group Corp (OTCMKTS: SFTBY) is reportedly planning to sell two-thirds of its T-Mobile Us Inc (NASDAQ: TMUS) stake in a deal valued at about $20 billion

SoftBank Group Corp (OTCMKTS: SFTBY) is reportedly planning to sell two-thirds of its T-Mobile Us Inc (NASDAQ: TMUS) stake in a deal valued at about $20 billion, according to sources with CNBC’s David Faber.

This would be another major recent move that SoftBank is taking to raise cash following a year of slip-ups associated with its $100 billion Vision Fund. SoftBank’s Vision had posted $18 billion in losses, according to a report sent to investors in May.

SoftBank had invested $9 billion in WeWork — which is an office sharing space company that postponed an IPO following major losses and questionable governance disclosed in its IPO filing. Following the earnings presentation, SoftBank Founder and CEO Masayoshi Son said he was foolish for the investment in WeWork. Back in March, SoftBank said it was going to monetize around $41 billion in assets for buying back shares and reducing its debt.

“SBG is exploring transactions with respect to shares of T-Mobile common stock, including, private placements or public offerings; transactions with T-Mobile or stockholders of T-Mobile, including Deutsche Telekom AG, or third parties; derivative or hedging transactions; margin loans; or other structured transactions,” said SoftBank in a press release.  

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