President-elect Donald Trump met with SoftBank CEO Masayoshi Son on Tuesday. The telecom mogul confirmed his plan to invest $50 billion in the U.S., with the aim of creating 50,000 jobs.
The Japanese telecom giant, SoftBank, has announced buyback of shares amounting to $4.4 billion, its biggest repurchase ever. This move is a desperate attempt by the company to regain its footing after its shares plunged to an all-time low following the company's overseas investment in US mobile operator, Sprint.
Analysts have updated their outlooks towards SoftBank, majority of whom have put a ‘Outperform’ tag for the embattled Japanese concern. Meanwhile, SoftBank’s stock has witnessed a fall of 27.60% since July 2, 2015 ahead of releasing earning figures. The stock price fall is due to its $22 billion investment in Sprint which has turned to be bad debt.
Japan's SoftBank Corp (9984.T) will soon downsize its Silicon Valley offices, people with knowledge of the matter said, signaling the company won't revive efforts to buy T-Mobile U.S. Inc (TMUS.N).
Softbank Corp’s investment in a Hollywood movie studio represents the coming out party for two new players in the U.S. entertainment industry -- the Japanese telecommunications company and Nikesh Arora, the former Google Inc executive running a new media and internet company.
Japan's SoftBank Corp said it expected a gain of about 500 billion yen ($4.6 billion) from Alibaba Group Holding's share listing in New York, where the Chinese e-commerce leader surged 38 percent on its first day of trade.
Masayoshi Son's nose for an investment has turned a $20 million start-up punt on Alibaba into a stake worth maybe $50 billion or more as the Chinese e-commerce giant co-founded and led by Jack Ma heads to what could be the biggest U.S. tech IPO of all time.
Sprint Corp's shares climbed as much as 15% earlier in trading day today as speculation that it will be merging with rival T-Mobile US Inc rises, said a Bloomberg report.
Sprint chairman and SoftBank chief executive Masayoshi Son was reportedly meeting senior bank executives in New York. Sources said that banks are readying proposals for financing a bid by Sprint Corp. for T-Mobile US.
US-based telecommunications company Sprint is eyeing the purchase of rival T-Mobile USA next year in a deal worth $20 billion, according to sources cited in a report by The Wall Street Journal.
A regulatory filing by Softbank Corp had confirmed rumors of the Japanese company purchasing a stake in US mobile distributor company Brightstar Corp.
S&P lowered SoftBank's rating after winning the bid on Sprint.
SoftBank executive Masayoshi Son announced confidently that the deal offered for Sprint will be completed in July.