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TEHRAN, Jun 4 - Japan’s SoftBank Group Corp said on Tuesday it expects to book around 1.2 trillion yen ($11.12 billion) in pre-tax profit on the sale of shares in China’s Alibaba Group Holding Ltd.
TEHRAN, Young Journalists Club (YJC) -The sale dates from 2016 when SoftBank sold part of its Alibaba stake via derivatives to fund its acquisition of British chip designer ARM.
The transaction leaves SoftBank with a 26% stake in Alibaba. SoftBank said it would book the profit in the financial quarter ending June.
Source: Reuters
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