An Investment Firm Acquires $1 Billion Stake in SoftBank
Investment firm Tiger Global has reportedly taken over a stake worth $1 billion in SoftBank Group and this deal has taken up the shares of the latter as much as 6.8 per cent.
Tiger Global stated to the investors in a letter that SoftBank's stock price had not increased over the past five years even after its holding in Chinese e-commerce giant Alibaba had added more than $90 billion in value.
Tiger manages around $22 billion in assets and deploys capital globally in both public and private markets. The company provides its services to private funds that are pooled investment vehicles.
"We continue to believe the market significantly undervalues our stock and we welcome the support from a sophisticated institutional investor like Tiger Global," SoftBank stated.
Masayoshi Son’s compa...