SoftBank has sold half of Ali’s shares to raise 148.7 billion yuan, and the board seat may not be guaranteed

SoftBank Group has raised as much as $22 billion in cash through a series of deals that will see SoftBank’s stake in Alibaba Group dwindle sharply over the next few years. SoftBank’s tech portfolio has been hit hard by the stock market downturn, and the company is responding… SoftBank has sold more than half of its Alibaba stake. That could bring SoftBank’s stake below the threshold for retaining board seats and prevent the company from consolidating its share of revenue from Alibaba in its earnings report.
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