Newspaper article International New York Times

SoftBank Plans to Buy Back $4.4 Billion in Shares

Newspaper article International New York Times

SoftBank Plans to Buy Back $4.4 Billion in Shares

Article excerpt

It would be the biggest share repurchase the company has made.

The multinational media and telecommunications conglomerate SoftBank said on Monday that it would buy back shares worth 500 billion yen, the biggest share repurchase it has ever made.

Stock in the group has slipped about 38 percent over the last year. The company had already announced a share buyback worth about $1 billion in August. Matthew Nicholson, a spokesman for SoftBank, said that "now is an optimal time" for the new buyback, worth about $4.4 billion. Mr. Nicholson noted that when SoftBank reported its earnings last week, Masayoshi Son, the chief executive, was asked about the company's share price. Mr. Son indicated then that the shares were undervalued, saying that there was a "perception gap. …

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