Business
FILE PHOTO: People walk behind the logo of SoftBank Corp in Tokyo December 18, 2014. REUTERS/Toru Hanai/File Photo
Activist investor Elliott Management said on Friday it supports SoftBank Group Corp’s latest move to buy back up to US$4.8 billion of its shares.
REUTERS: Activist investor Elliott Management said on Friday it supports SoftBank Group Corp’s latest move to buy back up to US$4.8 billion of its shares.
Elliott also said SoftBank would have opportunities to pursue additional buybacks following the completion of the merger between Sprint and T-Mobile .
Earlier on Friday, SoftBank announced a plan to repurchase up to 7per cent of its shares as the Japanese tech conglomerate’s shares have tumbled by about a quarter in March.
(Reporting by Bharath Manjesh in Bengaluru; Editing by Arun Koyyur)
