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SoftBank to tap $23.6bn dividend payment from Chinese unit

TOKYO -- SoftBank Group announced Monday that a Chinese subsidiary that sold shareholdings in Alibaba Group Holding would pay the parent some 2.37 trillion yen ($23.6 billion) in dividends.

SB China Holdings sold shares in the Chinese online retail giant, bringing in $10 billion. SoftBank will apply the funds toward acquiring British chip design firm ARM Holdings.

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