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After SoftBank experienced a ¥1.36 trillion loss during the last fiscal year.<\/p>\n <\/p>\n Image: T-Mobile<\/span><\/figcaption><\/figure>\n SoftBank Group has announced it is seeking to sell its shares in T-Mobile US, which it acquired via T-Mobile’s merger with Sprint<\/a> in April after years of on-and-off talks. <\/p>\n SoftBank Group currently has around $30 billion worth of shares, or a 27.3% stake, of the post-merger T-Mobile.<\/p>\n In the announcement, the Japanese conglomerate said it has been exploring transaction options with other stockholders, such as Deutsche Telekom, which is currently the controlling stockholder and holds a 41.7% stake in the US telco.<\/p>\n Among what the company said is open for consideration are the sale of SoftBank Group’s common stock, including private placements or public offerings; transactions with T-Mobile, stockholders of T-Mobile, or third parties; derivative or hedging transactions; margin loans; and other structured transactions.<\/p>\n “The exploration of any potential transactions will involve discussions and negotiations between or among T-Mobile and Deutsche Telekom AG, which SBG has had and continues to have,” SoftBank Group said.<\/p>\n Last month, Bloomberg <\/em>had reported<\/a> SoftBank was looking to sell about $20 billion of its T-Mobile stake to investors, including Deutsche Telekom. <\/p>\n While Masayoshi Son, SoftBank’s CEO and chairman, told investors at the company’s full-year earnings presentation in May that it was considering various financing options in regards to T-Mobile, its intention to sell its stake of the US telco was not confirmed until now.<\/p>\n The potential sale would be part of SoftBank Group’s ¥4.5 trillion ($41 billion) debt reduction scheme<\/a> that was announced in March. When the scheme was first announced, SoftBank said it would buy back up to ¥2 trillion worth of shares, in addition to a ¥500 billion share buyback<\/a> it had announced earlier that month. SoftBank has since spent a further ¥500 billion to repurchase its own shares.<\/p>\n SoftBank Group’s decision to try and shed its T-Mobile US stake follows the company revealing it suffered an operating loss of ¥1.36 trillion for the fiscal year ended March 31, which was its first annual loss in 15 years<\/a>. The trillion dollar figure was largely attributed to SoftBank’s Vision Fund experiencing a ¥1.93 trillion loss. Compared to the year prior, the fund posted a ¥1.26 trillion profit.<\/p>\n The Vision Fund’s consumer investments, real estate investments, and transportation and logistics investments — which include Uber, Didi Chuxing, and Grab — were hit particularly hard. The fair value of these three segments fell by $3.3 billion, $3.3 billion, and $2.8 billion, respectively, in the three months to March alone. <\/p>\n Beyond the losses, SoftBank is also facing a lawsuit from WeWork<\/a> for its decision to back out of a $3 billion tender offer that was agreed upon in October last year.<\/p>\n Tags:<\/b> Campbell Kwan<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"![\"T-Mobile\"](\"https:\/\/zdnet3.cbsistatic.com\/hub\/i\/2020\/03\/05\/47099d80-5dca-4651-96b9-af192ee2a098\/t-mobile.jpg\")
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After SoftBank experienced a ¥1.36 trillion loss during the last fiscal year. Image: T-Mobile SoftBank Group has announced it is seeking to sell its shares in T-Mobile US, which it acquired via T-Mobile’s merger with Sprint in April after years of on-and-off talks. SoftBank Group currently has around $30 billion worth of shares, or a … Continue reading SoftBank is looking to sell its T-Mobile stake<\/span><\/a> Continue Reading