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SoftBank to sell $41bn in assets to firm up financials amid coronavirus outbreak

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Christian Fernsby ▼ | March 23, 2020
SoftBank has revealed its plans to sell $41 billion worth of assets.
SoftBank
The company’s share values have halved over the past month, and the firm already carries a heavy $55 billion in debt.

Topics: SoftBank coronavirus

The planned sale and liquidation of assets will help the Japanese investment conglomerate repurchase $18 billion in stock and slash some of its debt.

“This programme will be the largest share buyback and will result in the largest increase in cash balance in the history of SoftBank Group, reflecting the firm and unwavering confidence we have in our business,” says founder and CEO Masayoshi Son.


 

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