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

Softbank's logo. (File photo: AP)

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.

Last Update: 05:30 KSA 08:30 - GMT 05:30