SoftBank Group Corp plans to raise $41 billion to buy back shares and reduce debt. The Japanese technology and telecoms company says its shares are undervalued by 73%. The company’s founder, Masayoshi Son, said the move reflected “the firm and unwavering confidence we have in our business.”
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The company will buy up to 2 trillion yen ($18.1 billion) of its shares in addition to a buyback of up to 500 billion yen announced earlier this month. The asset sale will be executed over the next four quarters.
Source:https://in.reuters.com/article/softbank-group-buyback/softbank-plans-41-billion-of-asset-sales-to-expand-buyback-and-cut-debt-idINKBN21A0GI
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