SoftBank Group said on Wednesday it expects to book profit of 200 billion yen to 250 billion yen ($1.9 billion to $2.4 billion) this financial year from the sale of shares in Alibaba Group Holding.
The Japanese telecommunications company earlier this month said it planned to sell $10 billion worth of Alibaba BABA 3.07% shares to help cut interest-bearing debt, reducing its stake in the Chinese e-commerce firm to around 27% from 32.2%.
The expected profit will come from the sale of $3.4 billion worth of Alibaba shares.
