SoftBank stock jumps nearly 12% after US judge approves T-Mobile-Sprint merger
4 years, 10 months ago

SoftBank stock jumps nearly 12% after US judge approves T-Mobile-Sprint merger

CNN  

Hong Kong CNN Business — A massive bet on Sprint is finally paying off for Masayoshi Son. Shares in his company SoftBank rallied on Wednesday, after a US court approved the $26 billion merger between T-Mobile and Sprint, the carrier SoftBank acquired nearly a decade ago. SoftBank stock closed up nearly 12% ahead of its quarterly earnings Wednesday in Tokyo. Getting this deal across the finish line is a much needed win for Son, who has been grappling with a string of high profile losses tied to his $100 billion Vision Fund. The company reported after trading hours Wednesday that profits have been almost entirely wiped out as it continues to feel the pain from big losses in its massive tech fund.

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History of this topic

SoftBank reports record $27.5 billion loss on crashing tech stocks
2 years, 7 months ago

SoftBank reports record $27.5 billion loss on crashing tech stocks

CNN  

Hong Kong CNN Business — SoftBank’s mega tech funds lost more than $27 billion in the last fiscal year, by far their worst performance on record. SoftBank’s portfolio companies include South Korean e-commerce firm Coupang and Southeast Asian ride-hailing startup Grab, which both went public in record-breaking offerings on Wall Street last year. Son also said that the company had …

SoftBank resumes buybacks with modest $380 million in September
4 years, 2 months ago

SoftBank resumes buybacks with modest $380 million in September

Live Mint  

SoftBank Group Corp. resumed buying back shares in September, shelling out ¥40.1 billion after suspending in August a multi-billion-dollar program that’s proven instrumental in buoying the stock. Masayoshi Son’s conglomerate bought back 6.17 million shares last month, it said in a filing Wednesday, part of a now half-completed 2.5 trillion yen buyback program. The Japanese company resumed buying on Sept. …

SoftBank stock has best day in 12 years after unveiling huge buyback plan
4 years, 9 months ago

SoftBank stock has best day in 12 years after unveiling huge buyback plan

CNN  

Hong Kong CNN Business — SoftBank announced a mammoth plan Monday to sell $41 billion worth of assets, buy back shares and shore up its finances, giving the company’s stock its best day in more than a decade. The plan involves selling or liquidating up to 4.5 trillion Japanese yen worth of holdings, which the Japanese tech group says will …

SoftBank’s profit drop amid WeWork worries, Sprint approval
4 years, 10 months ago

SoftBank’s profit drop amid WeWork worries, Sprint approval

Associated Press  

TOKYO — Japanese technology conglomerate SoftBank Group Corp. said its profit for the last quarter dropped amid worries about the perceived risk of its investments into companies like WeWork. Tokyo-based SoftBank said Wednesday its profit for the October-December quarter stood at 55 billion yen, down to less than a tenth of the 698 billion it earned over the three months …

SoftBank gives up on dog-walking startup Wag after investing $300 million
5 years, 1 month ago

SoftBank gives up on dog-walking startup Wag after investing $300 million

CNN  

CNN — SoftBank raised eyebrows nearly two years ago when it pumped a staggering $300 million into a dog-walking startup called Wag. New Wag CEO Garrett Smallwood informed staffers on Monday that the company was “amicably parting ways with SoftBank,” according to the email obtained by CNN Business. For SoftBank, the failed Wag investment is just the latest shadow cast …

SoftBank takes $9 billion hit from Uber, WeWork and other tech investments
5 years, 2 months ago

SoftBank takes $9 billion hit from Uber, WeWork and other tech investments

CNN  

Hong Kong CNN Business — Some of Masayoshi Son’s biggest tech bets are leading to multibillion dollar losses. SoftBank on Wednesday reported an operating loss for the most recent quarter of 970.3 billion yen on its mega tech funds including the Vision Fund, which holds investments in Uber, WeWork, Slack and other major startups. The group reported losses of 704 …

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