SoftBank hits 17-year high amid Japan rally

SoftBank Group surged to a 17-year high in Tokyo amid a rally in Japanese stocks and signs of progress in founder Masayoshi Son’s dealmaking. The Tokyo-based company’s shares rose 3.6 percent to 9,840 in Tokyo, the highest closing price since March 2000 in the midst of the dot-com boom. The stock remains less than half its peak in February 2000. A prolific dealmaker, Son is in the midst of several highprofile negotiations. SoftBank is part of a group of investors in talks for a stake of 14 per cent to 17 per cent in Uber Technologies Inc, people familiar with the matter have said. SoftBank-controlled Sprint is also in the final stages of working out terms for a merger with T-Mobile US Inc, a deal that Son says will benefit competition in the US wireless market.