{"id":69913,"date":"2022-08-10T15:33:45","date_gmt":"2022-08-10T11:33:45","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=69913"},"modified":"2022-08-10T16:35:34","modified_gmt":"2022-08-10T12:35:34","slug":"softbank-to-book-34-bln-gain-by-cutting-alibaba-stake-to-14-6","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/softbank-to-book-34-bln-gain-by-cutting-alibaba-stake-to-14-6\/08\/10\/market-updates\/","title":{"rendered":"SoftBank to book $34 bln gain by cutting Alibaba stake to 14.6%"},"content":{"rendered":"\n<p>SoftBank Group Corp on Wednesday said it will book an estimated gain of 4.6 trillion yen ($34.08 billion) on settling prepaid forward contracts using shares in Alibaba Group Holding, reducing its stake to 14.6% from 23.7%.<\/p>\n\n\n\n<p>SoftBank on Monday booked a record quarterly net loss due to sliding valuations at its Vision Fund investment arm, with Chief Executive Masayoshi Son pledging to reduce investment activity further and cut costs.<\/p>\n\n\n\n<p>The estimated gain announced on Wednesday includes 2.4 trillion yen from the revaluation of shares in the Chinese e-commerce giant and a derivative gain of 0.7 trillion yen, SoftBank said in a filing.<\/p>\n\n\n\n<p>The transaction \u201cwill be able to eliminate concerns about future cash outflows, and furthermore, reduce costs associated with these prepaid forward contracts,\u201d SoftBank said.<\/p>\n\n\n\n<p>\u201cThese will further strengthen our defense against the severe market environment,\u201d SoftBank added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SoftBank Group Corp on Wednesday said it will book an estimated gain of 4.6 trillion yen ($34.08 billion) on settling prepaid forward contracts using shares in Alibaba Group Holding, reducing its stake to 14.6% from 23.7%. SoftBank on Monday booked a record quarterly net loss due to sliding valuations at its Vision Fund investment arm, &hellip;<\/p>\n","protected":false},"author":9,"featured_media":62504,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[7211,6877,6928,6882],"class_list":["post-69913","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-currencies","tag-dollar","tag-euro","tag-forex"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/69913","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=69913"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/69913\/revisions"}],"predecessor-version":[{"id":69914,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/69913\/revisions\/69914"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/62504"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=69913"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=69913"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=69913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}