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SoftBank's Vision Fund looks to borrow $4bn against tech stakes

Investment arm of the Japanese conglomerate aims to hand back cash to investors

Masayoshi Son speaks during an earnings conference in Tokyo on May 9. (Photo by Yoichi Iwata)

NEW YORK (Financial Times) -- SoftBank's Vision Fund plans to borrow $4bn against its stakes in Uber and two other Silicon Valley groups, as the investment arm of the Japanese conglomerate looks to hand back cash to investors in its $100bn fund.

The fund is in discussions with banks, including Goldman Sachs, to arrange a loan secured against its holdings in Uber, which listed this month, and Guardant Health as well as its stake in soon-to-be-floated Slack, according to people directly involved in the deal. If the value of those stakes falls beyond a certain threshold, the fund will be obliged to stump up more cash, the people said.

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