202110 Aug

SoftBank unit behind risky multibillion-dollar tech bets dumps Microsoft, Facebook, Alphabet and Netflix shares

Summary

Masayoshi Son speaks during a joint announcement with Toyota Motor to make new venture to develop mobility services in Tokyo in October 2018. SoftBank has offloaded shares of U.S. tech giants like Facebook, Microsoft, Alphabet and Netflix, according to its latest financial report released on Tuesday. The Tokyo-headquartered conglomerate invests in publicly listed shares through its SB Northstar trading unit and provides a breakdown of the units portfolio companies in its quarterly results. Facebook, Microsoft, Alphabet and Netflix were included in SB Northstars portfolio at the end of March but were absent from the list at the end of the April-June quarter, suggesting a reduction or a complete offload in holdings. In total, SB Northstar held stakes in firms worth $13.6 billion at the end of June, down from $19 billion at the end of March.

Source: Cnbc

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