26.03.2020 ALIBABA Daily Analysis

26.03.2020 ALIBABA Daily Analysis

Softbank is finally considering selling a portion of its massive stake in Alibaba as part of its plan to raise $41 billion via asset sales. Citing people with knowledge of the matter, Bloomberg reports that Softbank intends to sell around $14 billion of its shares in Alibaba, the Chinese eCommerce giant. Sources indicate that Softbank will raise anywhere from $12 billion to $15 billion by selling some of its $120 billion stakes. It's not clear over what period Softbank will sell shares of Alibaba. The company’s other large assets include a 66.5% stake in the Japanese wireless phone company SoftBank Corp. sometimes referred to as SoftBank KK—a position worth about $40 billion. SoftBank also owns most of Sprint and will hold a substantial stake in the combined T-Mobile US (TMUS)/Sprint business, but that holding is subject to a lockup agreement that would likely prevent any near-term sales of its stake without cutting a deal with T-Mobile and its largest investor, Deutsche Telekom (DTE.Germany).