SoftBank wants to buy back 45% of its shares to survive the coronavirus
Japanese billionaire Masayoshi Son has a plan to save SoftBank from the coronavirus: Sell $41 billion worth of its assets and use the cash to clear debt and buy its own shares. Masayoshi hopes such drastic measures will reassure shareholders of his firm’s resilience under threat of global recession. “This will allow us to strengthen our balance sheet while significantly reducing debt.” he said in a statement. [Read: Google’s coronavirus information site is now live] SoftBank now intends to purchase 45% of all shares that exist on the market, after it revealed a $4.5 billion buy-back scheme earlier this month. This is now…
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