Softbank expect the highest loss ever

14 / 04 / 2020
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SoftBank Group Corp’s estimate for this year is a record loss for the entire year of $ 13 billion. The company plans to sell assets aimed at raising cash and restoring confidence. By selling assets, SoftBank wants to raise $ 42 billion.

Company is considered a possible target, SoftBank is dependent on its dividends for cash flow, with its stake in Alibaba Group Holding Ltd. will remain the most likely option to sell or monetize

SoftBank shares fell by up to 4% on Tuesday before recovering to close 5% after the group announced Monday that it sees a $ 1.816.7 billion loss in the Visa Fund when its technology bets are breaking up.

SoftBank’s largest asset, its 26% stake in China’s e-commerce leader, is already being used as collateral to lend more than a trillion yen, with collar transactions contributing another $ 200 billion at the end of December.

Alibaba, a joint-stock company, could be used to raise 3 trillion yen, Takahashi wrote, taking advantage of his stake in the wireless operator T-Mobile US Inc, who has just completed a merger with Sprint SoftBank as a loan collateral.

The increase in SoftBank shares on Tuesday followed comments from the Japanese Credit Rating Agency, which stated that the impact of the expected annual loss on SoftBank’s credit rating is limited as it will not have a significant impact on the debt ratio.

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