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    9984   JP3436100006

SOFTBANK GROUP CORP.

(9984)
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UPDATE1: SoftBank Group to sell T-Mobile shares for expected 2 tril. yen

06/22/2020 | 09:48pm EDT

SoftBank Group Corp. said Tuesday it will reduce its stake in T-Mobile U.S. Inc., selling an expected $21 billion worth of stock as part of plans to raise 4.5 trillion yen ($42 billion) to buy back shares and reduce debt.

The Japanese technology conglomerate said it will sell up to 198.31 million shares in the U.S. telecom firm. T-Mobile shares closed at $106.60 on Monday.

The price at which SoftBank Group will sell will be determined later, it said.

It currently has around a 24 percent stake in T-Mobile, while Deutsche Telekom AG owns around 43 percent.

In March, SoftBank Group said it would sell up to 4.5 trillion yen worth of assets in a bid to improve its ailing balance sheet that has been hit by disastrous investments, including in U.S. shared working space provider WeWork, as well as by the global financial market turmoil sparked by the coronavirus outbreak.

SoftBank Group reported last month a record net loss of 961.58 billion yen for the year that ended March 31, its first red ink in 15 years, as investments by its Vision Fund in WeWork and other startups deteriorated.

T-mobile merged with Sprint Corp., a struggling U.S. carrier controlled by SoftBank Group, in April.

==Kyodo

© Kyodo News International, Inc., source Newswire

Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE TELEKOM AG 1.52% 17.22 Delayed Quote.13.42%
SOFTBANK GROUP CORP. -4.98% 6329 End-of-day quote.-21.46%
T-MOBILE US -0.58% 124.9 Delayed Quote.-6.84%
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Analyst Recommendations on SOFTBANK GROUP CORP.
More recommendations
Financials
Sales 2022 6 040 B 55 292 M 55 292 M
Net income 2022 1 310 B 11 990 M 11 990 M
Net Debt 2022 14 983 B 137 B 137 B
P/E ratio 2022 8,69x
Yield 2022 0,70%
Capitalization 10 842 B 99 238 M 99 250 M
EV / Sales 2022 4,28x
EV / Sales 2023 4,05x
Nbr of Employees 58 786
Free-Float 69,3%
Chart SOFTBANK GROUP CORP.
Duration : Period :
SoftBank Group Corp. Technical Analysis Chart | 9984 | JP3436100006 | MarketScreener
Technical analysis trends SOFTBANK GROUP CORP.
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 15
Last Close Price 6 329,00 JPY
Average target price 10 507,87 JPY
Spread / Average Target 66,0%
EPS Revisions
Managers and Directors
Masayoshi Son Chairman & Executive President
Yoshimitsu Goto CFO, Director & Senior Managing Executive Officer
Raul Marcelo Claure Chief Operating Officer & Executive Vice President
Tim Mackey Chief Legal Officer & Group Compliance Officer
Masami Iijima Independent Outside Director
Sector and Competitors
1st jan.Capi. (M$)
SOFTBANK GROUP CORP.-21.46%104 235
AT&T INC.-5.39%194 276
T-MOBILE US-6.84%156 782
KDDI CORPORATION23.48%79 646
AMÉRICA MÓVIL, S.A.B. DE C.V.24.84%58 864
VODAFONE GROUP PLC-5.62%43 049