News
SoftBank Group Corp revealed a series of transactions on Monday to divest more than $21 billion worth of stock in T-Mobile US, as part of a $41 billion share buyback and debt reduction plan.
Much of the shares divested by SoftBank were acquired by T-Mobile which plans to sell them on the open market to private investors. Softbank also granted T-Mobile options to acquire its remaining T-Mobile shares.
All in all, SoftBank will divest two-thirds of its 24.6% stake in T-Mobile US and has granted Deutsche Telekom AG call options to acquire its remaining shares.
SoftBank’s share value has more than doubled since mid-March, despite the economic disruption caused by COVID-19, as CEO Masayoshi Son moves streamline the Group’s investments, delighting investors.
