Masayoshi Son's SoftBank plans to sell majority of its stake in Alibaba

Masayoshi Son's SoftBank plans to sell majority of its stake in Alibaba https://ift.tt/TAKwreu Group is looking to shed a majority of its position in Alibaba, after having sold $7bn in the Chinese tech giant this year using prepaid contracts. Pummeled by losses from its startup bets, the Japanese company has prioritised financial discipline to be able to go on an offensive with investments in the future. The move reduces SoftBank's ownership of Alibaba to less than 4%, down from 14.6% as of end-September and is the latest sign of long-time China investors cutting their exposure there.