SoftBank selling $14B in Alibaba shares

SoftBank (OTCPK:SFTBF,OTCPK:SFTBY) plans to sell $14B in Alibaba (NYSE:BABA) shares as part of its efforts to raise $41B, according to Bloomberg sources.

The rest of the money could come from selling its stake in the SoftBank Corp. telecom arm and its piece of Sprint following the T-Mobile merger.

Yesterday, SoftBank announced a record $18B buyback program as it works to slash debt during the coronavirus-related sell-off.

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