SoftBank adds to AliBaba sale, bringing total to $10 billion

June 3, 2016 2:07 PM

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TOKYO SoftBank Group Corp said on Friday it was selling a further $1.1 billion of its shares in AliBaba Group Holding Ltd, bringing the total it has sold in the Chinese e-commerce company to $10 billion.

SoftBank on Wednesday said it would sell at least $7.9 billion of shares in AliBaba, marking the first sale of shares in the Chinese company since SoftBank began investing in it in 2000. The two companies said they would maintain a strategic partnership.

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