SoftBank latest news and updates: (9984 JP) talks to take private, FT report


Softbank Group Corp executives rekindling discussions about technology company Private, Financial Times Reported citing people with direct knowledge of the case.

The Financial Times said that the negotiations are underway due to SoftBank’s continued rebate in its equity valuation of $ 115 billion. Several fundamental changes in SoftBank’s long-term business strategy also accelerated negotiations.

The newspaper said that internal opposition to management, however, remains strong, as Japan has a strong reputation with being a reputable company.

SoftBank declined to comment on the paper.

SoftBank recently conducted a private investigation in collaboration with activist hedge fund Elliott Management and Abu Dhabi State Fund Mubadala, the FT reported in March. SoftBank is going to sell its chipmaker Arm Ltd to Nvidia Corp in a deal that could give Arm around $ 40 billion in cash and stock, people familiar with the matter told Bloomberg.

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