US Hedge Fund Elliott Dumps SoftBank Stake – FT

US hedge fund Elliott Management has sold most of its stake in SoftBank, indicating a loss of faith in the Japanese investment group, the Financial Times reported, citing people familiar with the trade.

Elliott made its move after losing confidence in SoftBank founder Masayoshi Son’s ability to turn around the company’s fortunes after steep investment losses, the story said. The sale took place earlier this year, it added.

Read the full report: Financial Times

 

Read more:

Alibaba Sale Shows SoftBank Cooling on China Tech

SoftBank Slashes Alibaba Stake, Booking $34 Billion Gain

SoftBank Accelerates Asset Sales After Vision Fund $50bn Hit

Alfie Habershon

Alfie is a Reporter at Asia Financial. He previously lived in Mumbai reporting on India’s economy and healthcare for data journalism initiative IndiaSpend, as well as having worked for London based Tortoise Media.