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SoftBank set for $34bn gains by reducing Alibaba stake
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SoftBank said 10 August that it planned to reduce its stake in Chinese e-commerce company Alibaba as part of a settlement of financial contracts that it expects to add $34bn to pretax income in the current quarter.
The Japanese technology investment company said its stake in Alibaba is expected to fall to 14.6% as a result of the moves. The stake was 23.7% as of 30 June.
It...
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