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Latest Articles in softbank

Softbank To Sell 5% Of Domestic Telecom To Raise Cash

SoftBank Corp's shares closed down 0.8% on Friday ahead of the announcement at 1,375 yen, giving a 5% stake a market valuation of 330 billion yen ($3.1 billion).

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SoftBank-Backed Ola To Cut About 35% Workforce Amid COVID-19 Crisis

SoftBank-backed WeWork, restaurant aggregator Zomato and food delivery service Swiggy, that have laid off employees to cut costs as the pandemic wreaks havoc on businesses and forces people to stay indoors.

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SoftBank's Vision Fund Tumbles To $18 billion Loss In 'Valley Of Coronavirus'

The disastrous 1.9 trillion yen ($18 billion) operating shortfall at the Saudi-backed Vision Fund, including losses of almost $10 billion at office-sharing firm WeWork and ride- hailing app Uber Technologies Inc alone, left SoftBank with its worst annual loss of 1.4 trillion yen.

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Softbank Sees $8.4 Billion Net Loss On WeWork Writedown

SoftBank maintained its forecast of a record annual operating loss of 1.35 trillion yen announced earlier this month as bets via the $100 billion fund sour.

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SoftBank Could Benefit As BOJ Expands Corporate Debt Buying

The BOJ has a limited amount of company bonds it can buy and Softbank is a big player in the market, with 17.2 trillion yen ($161.24 billion) of interest-bearing debt.

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For SoftBank's Son, Coronavirus Turns Vision To Illusion

The fund does not include all $13 billion invested with SoftBank itself in office-share startup WeWork, or SoftBank's bet on satellite operator OneWeb

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WeWork Directors Defend Right To Represent Shareholders Against Softbank

SoftBank has so far invested more than $13.5 billion in WeWork. But the conglomerate has been under growing financial strain

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SoftBank Shares Fall 3.5% After Flagging First FY Loss In 15 Years

The Vision Fund recorded a loss of around 800 billion yen in the nine months to December, indicating that losses widened in the final quarter of the financial year.

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SoftBank's Son Tests State Of Emergency Appetite Via Twitter Poll

New York state, which had 89 coronavirus cases on the day it declared a state of emergency but just three weeks later was having to cope with more than 83,000 cases.

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SoftBank To Abandon $3 Billion Deal For Additional Wework Shares

The U.S.-based company's committee said it will evaluate all its legal options, including litigation and remained committed to reaching a solution.

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Softbank-Backed Oneweb Files For Chapter 11 Bankruptcy Plan, Cuts Jobs

The satellite operator estimated assets in the range of $1 billion to $10 billion and liabilities in the same range, according to a filing in the U.S. Bankruptcy Court for the Southern District of New York.

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SoftBank To Sell Up To $41 Billion In Assets To Expand Share Buyback, Cut Debt

SoftBank's share price extended early gains on Monday, jumping 19% following the announcement of the asset sales, which will be executed over the next four quarters.

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SoftBank Group's Market Cap Dips Below Domestic Telco As Scepticism Grows

SoftBank last month said it would pledge shares in its domestic telco as collateral to raise up to $4.5 billion, reflecting its falling back on established portfolio businesses for cash as its $100 billion.

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SoftBank Unveils $4.8 Billion Buyback After Stock Tumble, Pressure From Elliott

The plan to buy back up to 7% of its shares for as much as 500 billion yen ($4.8 billion) announced by SoftBank

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SoftBank CEO Tells U.S. Investors He'll Be More Careful

SoftBank was aiming to raise $108 billion in funds for a second Vision Fund, and has committed $38 billion of its own money toward that goal.

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