ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

SoftBank to slash Alibaba stake in race for cash

Vision Fund exits entire $7.7bn Uber holding during market downturn

SoftBank Group is effectively selling a significant chunk of shares it owns in Chinese e-commerce company Alibaba Group Holding, its most successful investment. (Source photos by Reuters)

TOKYO/HONG KONG -- SoftBank Group is accelerating its pace of asset sales, highlighting the urgent need to raise cash as it strives to outlast a prolonged "tech winter."

The Japanese investment group is effectively selling about 38% of shares it owns in Alibaba Group Holding -- worth about $22 billion based on the Chinese e-commerce company's stock price on Tuesday in New York trading -- reducing ties to its most successful investment.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more