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    TMUS   US8725901040

T-MOBILE US

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SoftBank advances share buyback with approval of $9.6 billion tranche

07/30/2020 | 08:41pm EDT
FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo

SoftBank Group said on Friday it has approved a 1 trillion yen ($9.6 billion) share repurchase, the final tranche of a record 2.5 trillion buyback that has helped propel its share price to two decade highs.

The Japanese conglomerate unveiled in March a 4.5 trillion yen plan to buy back shares and reduce debt. It has so far approved buybacks of two tranches of 500 billion yen each. In addition it announced a 500 billion yen buyback in March.

SoftBank said in a statement the 4.5 trillion yen programme had intended to be executed over four quarters from the time of the original announcement, but that it was possible the repurchase may not be completed until April 2021 or later.

Under the plan the group has been selling down core assets including stakes in Chinese ecommerce giant Alibaba Group Holding and U.S. wireless carrier T-Mobile US Inc.

SoftBank shares climbed as much as 2% following the announcement, with its share price up 43% year-to-date.

The highly leveraged group, a contrast to its cash laden Japanese peers, has repurchased 170 billion yen of its domestic unsecured corporate bonds.

With the proceeds from asset sales potentially more than its targeted amount, "excess funds are likely being considered for Vision Fund 2", wrote Kirk Boodry, analyst at Redex Research, in a note on the Smartkarma platform.

SoftBank has struggled to attract outside investment for a second fund after the poor performance of the first $100 billion fund, and has been investing in a limited capacity using its own money.

The fund can point to positive newsflow in recent weeks including the successful IPO of portfolio company Lemonade Inc, which listed in New York this month.

Goldman Sachs has placed a sell rating on the insurance startup saying it is facing years of losses before breaking even - a criticism that has plagued other SoftBank investments too.

($1 = 104.6700 yen)

By Sam Nussey


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED 1.64% 218.38 Delayed Quote.-7.68%
SOFTBANK GROUP CORP. 2.26% 7862 End-of-day quote.-2.43%
T-MOBILE US 0.39% 145.6 Delayed Quote.7.55%
THE GOLDMAN SACHS GROUP, INC. 2.13% 368.75 Delayed Quote.35.58%
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Financials (USD)
Sales 2021 79 665 M - -
Net income 2021 2 592 M - -
Net Debt 2021 68 528 M - -
P/E ratio 2021 64,7x
Yield 2021 -
Capitalization 182 B 182 B -
EV / Sales 2021 3,14x
EV / Sales 2022 3,00x
Nbr of Employees 75 000
Free-Float 55,8%
Chart T-MOBILE US
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T-Mobile US Technical Analysis Chart | TMUS | US8725901040 | MarketScreener
Technical analysis trends T-MOBILE US
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 32
Last Close Price 145,03 $
Average target price 163,01 $
Spread / Average Target 12,4%
EPS Revisions
Managers and Directors
NameTitle
G. Michael Sievert President, Chief Executive Officer & Director
Peter Osvaldik Chief Financial Officer & Executive VP
Timotheus H÷ttges Chairman
Cody Sanford Executive VP, Chief Information & Product Officer
Abdul Saad Chief Technology Officer & Executive VP
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T-MOBILE US7.55%180 832
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AMÉRICA MÓVIL, S.A.B. DE C.V.5.94%50 010