Japan's SoftBank plans to sell $14b in Alibaba shares

SoftBank Group founder and CEO Masayoshi Son and Alibaba founder and former Chairman Jack Ma shake hands at the Tokyo Forum 2019 in Tokyo, Japan, December 6, 2019. REUTERS/Kim Kyung-Hoon

SoftBank Group Corp. plans to sell about $14 billion in shares of Chinese e-commerce giant Alibaba Group Holding Ltd. as part of an effort to raise $41 billion to shore up its businesses battered by the pandemic, according to people with knowledge of the matter.

The Japanese conglomerate is considering raising the remainder of the money by selling a stake in SoftBank Corp., its domestic telecommunications arm, as well as part of its stake in Sprint Corp. following its merger with T-Mobile US Inc., said one of the people, who requested anonymity discussing private transactions.

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