Bargain hunting

12 July 2018 By Alec Macfarlane

Masayoshi Son’s sprawling operation attracted an investment of over $1 bln from hedge fund Tiger Global. That should help SoftBank narrow its conglomerate discount, as might spinning off the Japanese mobile unit. The massive Vision Fund, though, is a murky hodgepodge unto itself.

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Tiger Global Management has built a stake in Japanese conglomerate SoftBank Group worth more than $1 billion, Reuters reported on July 11, citing a source with direct knowledge of the matter.

The U.S. investment manager told investors in a letter that SoftBank’s share price had not increased over the last five years, even though the company’s stake in Chinese e-commerce giant Alibaba had gained more than $90 billion in value, the report said.

SoftBank’s acquisition of Fortress Investment Group and the launch of the Japanese group’s Vision Fund, a technology investment vehicle that aims to raise $100 billion, also had the potential to provide higher returns to investors, according to the letter.

SoftBank’s shares rose as much as 5.5 percent in early morning trading in Tokyo.

Context News

Tiger Global Management has built a stake in Japanese conglomerate SoftBank Group worth more than $1 billion, Reuters reported on July 11, citing a source with direct knowledge of the matter.

SoftBank’s shares rose as much as 5.5 percent in early morning trading in Tokyo.

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