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Softbank to sell up to $41 bln in assets for stock buyback, reduce debt

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SoftBank Group said Monday it would sell up to $41 billion in assets to finance a stock buyback, reduce debts and increase its cash reserves.

In a statement, it said it would buy back $18 billion of its stock, with the remaining money to be used on debt, bond buybacks and cash reserves, setting a four-quarter timetable for the transactions.