Softbank to sell off $14bn stake in its mobile network

Softbank remains one of Japan’s largest mobile network operators, with over 40 million subscribers across the country
Softbank, Japan, Divestment, MNOs


Japanese investment fund Softbank has revealed plans to sell off over 30 per cent of its shares in its mobile network subsidiary, raising $14 billion (trillion yen) in the process.

The sale would reduce Softbank’s ownership of its mobile network subsidiary business from 62.1 per cent to 40.4 per cent.

Earlier this year, Softbank announced plans to sell off around $40 billion worth of assets, as it looks to rebalance its investments in the wake of the global coronavirus pandemic.

“This programme will be the largest share buyback and will increase in the largest increase in cash balance in the history of SBG, reflecting the firm and unwavering confidence we have in our business,” said Masayoshi Son, chairman and chief executive officer of SBG, said in March.

“This will allow us to strengthen our balance sheet while significantly reducing debt. Moreover, the monetisation of assets represents less than 20 per cent of the company’s current asset value,” he added.

Softbank has been undergoing a process of monetising its assets in recent months, with the merger of its US telecoms brand Sprint with its competitor T-Mobile adding significant cash injections to Softbank Group’s revenues.

REGISTER NOW | Webinar Event | Security you can bank on – Safeguarding the Middle East’s financial sector

Presented in partnership with security and network specialist Cybereason, the second in the three part webinar series will bring together a panel of experts to discuss how banks and financial institutions are evolving their service offering while simultaneously staying one step ahead of the cyber criminals who seek to bring their operations crashing to the ground.

Editor's Choice

Emerson expands analytics platform for industrial enterprise-level wireless infrastructure management
Plantweb Insight platform adds two new Pervasive Sensing applications that manage wireless networks more efficiently with a singular interface to the enterprise
Digitalisation seen as a competitive advantage by Middle East private businesses
Nearly 80 per cent of private business leaders acknowledge that digitalisation can impact business sustainability
Etisalat introduces Multi-Access Edge Computing architecture delivering best-in-class video streaming performance for 5G networks
MEC architecture achieves performance gains of as much as 90% in video streaming, validating how ultra-low-latency applications will be delivered over 4G and 5G networks

Most popular

Don't Miss a Story