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SoftBank to reap more than $20bn from T-Mobile sale

Tech conglomerate eyes profit near $4bn following April merger with Sprint

 SoftBank CEO Masayoshi Son speaks at a news conference in Tokyo in February. (Photo by Yuki Kohara) 

TOKYO -- SoftBank Group said Wednesday it will sell most of its stake in U.S. telecom carrier T-Mobile for $103 per share, bringing the Japanese technology group a $20 billion windfall a day before a closely watched shareholders meeting.

The pricing for the sale was a 3.9% discount to T-Mobile's closing price on Tuesday. The stock has rallied 37% since the start of the year.

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