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SoftBank's Masayoshi Son sees stake grow to 34% amid buyout rumors

Buybacks have concentrated more power in hands of billionaire founder

SoftBank Group Chairman and CEO Masayoshi Son now has the power to veto special shareholder resolutions.   © Reuters

TOKYO -- SoftBank Group Chairman and CEO Masayoshi Son now controls more than a third of the Japanese technology investment giant, recent disclosures show, after a spate of stock buybacks shrank the number of shares trading on the market.

At the end of November, Son held 34% of SoftBank Group's outstanding shares either directly or through entities linked to him, up from 32% in September, according to filings made by the company and Son to Tokyo's Kanto Local Finance Bureau.

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