SoftBank shares sag after satellite investment collapses

OneWeb's bankruptcy filing puts tech group's unlisted assets under fresh scrutiny

The bankruptcy filing by U.K.-based satellite operator OneWeb on March 27 hit SoftBank hard. The Japanese technology group had invested some $1.9 billion in OneWeb and owned nearly 40% of its shares. (Nikkei Montage/ Source photo by Reuters)

WATARU SUZUKI, Nikkei staff writer

March 30, 2020 16:53 JST

TOKYO -- SoftBank Group's share price rally ended abruptly on Monday after the collapse of one of its investments raised fresh worries over the quality of the technology group's assets.

SoftBank's stock price fell more than 10% early on Monday after gaining 45% last week on its announcement that it will sell or cash in $41 billion in assets. The company's shares closed down 5%.