“SoftBank gets $7.6 billion T-Mobile stake windfall, shares soar”
January 2, 2024
“Shares in SoftBank Group jumped 5% on Wednesday after the Japanese tech conglomerate said it would receive shares in telco T-Mobile U.S. worth some $7.59 billion at no additional cost…
The transaction bolsters the listed assets in SoftBank’s portfolio, doubling its T-Mobile U.S. stake to 7.64% from 3.75% currently, following the blockbuster listing of chip designer Arm in September… Other positives for the company include the recent rally in Arm’s shares, which closed on Tuesday around 44% above the initial public offering price…”