The Japanese tech investor, which previously held more than 30% of Alibaba, is reportedly slashing its holding to less than 4%.
Japanese tech investor SoftBank has sold almost all of its remaining stake, further paring a formerly lucrative and expansive partnership as the Chinese group explores a radical shakeup amid increasing government scrutiny.VCG via Getty ImagesSoftBank has sold around $7.
Alibaba Group Holding’s shares in Hong Kong dropped by more than 5% on Thursday, erasing more than $10 billion of market value, recovering to a loss of around 2% during trading later that day.Shares of SoftBank in Tokyo were down nearly 1% at market close on Thursday.
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