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Thursday, 11 August 2022

Battered SoftBank selling Alibaba shares to pocket $34 billion

Masayoshi Son-led SoftBank Group on Wednesday revealed plans to sell nearly 242 million American depository receipts (ADRs) of Chinese behemoth Alibaba, that will help it gain 4.6 trillion yen ($34 billion) in pre-tax gain from the sale.

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