SoftBank to sell part of stake in China's Alibaba for $7.9 bn
Tokyo economy
Tokyo - Arab Today
Japanese mobile carrier SoftBank said on Wednesday that it will sell at least $7.9 billion of its stake in Chinese e-commerce giant Alibaba.
Softbank, which now holds 32.2 percent of the Chinese company, has "approved of a series of capital raising transactions which involve monetising a portion of the shares of Alibaba," the firm said in a statement.
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