May 21 - 15:05
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SoftBank to sell $3.1 billion stake in domestic telco
SoftBank is raising some cash by selling a 5% stake in its Japanese telecoms business. It is hoping to earn up to $3.1 billion from the divestment. This is part of a wider programme to raise $41 billion through asset sales. SoftBank this week recorded a record annual operating loss, with its Vision Fund investments having suffered badly due to the coronavirus pandemic.
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