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)

WATARU SUZUKI and CISSY ZHOU, Nikkei staff writers

August 10, 2022 11:00 JST

Updated on August 10, 2022 20:42 JST

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."