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SoftBank announces $41 billion asset sale to face coronavirus rout—and silence critics

March 23, 2020

Via: Fortune

Masayoshi Son is making his biggest play yet to silence doubters. On Monday, the Japanese billionaire unveiled an unprecedented $41 billion plan to sell off assets and shore up SoftBank Group Corp.’s crumbling market value in the face of the coronavirus pandemic.

SoftBank aims to sell assets to raise as much as 4.5 trillion yen ($41 billion) over the coming year to buy back stock and slash debt — an amount equivalent to almost its entire market value last week.

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