SoftBank hits 17-year high amid Ja­pan rally

Business Standard - - WORLD -

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.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.