SoftBank Is Asking for Too Much for Its Mobile Unit
The Japanese tech conglomerate hopes to persuade investors its domestic phone business is worth more than $60 billion
Japan’s SoftBank is famous for paying sky-high prices for its overseas acquisitions. It will have difficulty persuading investors to do the same for its domestic mobile unit.
The technology conglomerate said Monday that the Tokyo Stock Exchange had approved the initial public offering of up to nearly 37% of the unit, known as SoftBank Corp. SoftBank is looking to raise as much as $23 billion, which it could then plow into more tech unicorns, through its near-$100 billion Vision Fund.
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