Ownership Stake: Bank Corp and Parent Company

ownership stake: The parent company said its ownership stake will fall to 62.1 percent after the deal, which closes May 26. ; Founder Masayoshi Son had said he would sell off about 42 billion in assets to help finance stock buybacks and pay down debt, according to The Japan Times. Soft Bank disclosed it's selling shares in Alibaba Group Holding Ltd. through complex contracts, and that it's in talks to sell about 20 billion of T-Mobile U.S. Inc., according to reports by Bloomberg News this week. The group intends to sell 240 million shares of Soft Bank Corp. for 1,306.5 to 1,320 apiece, a discount of as much as 5 percent to Thursday's close. Son is struggling with the impact of the coronavirus on a portfolio of startups weighted heavily toward the sharing economy. In the interim, the billionaire has turned to ever larger stock buybacks to sustain Soft Bank. Its Vision Fund business lost 1.9 trillion last fiscal year after writing down the value of investments from WeWork to Uber Technologies Inc. (news.financializer.com). As reported in the news.