SoftBank to Sell a Stake in Alibaba

May 31, 2016 9:09 PM

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SoftBank to Sell a Stake in Alibaba

SAN FRANCISCO — SoftBank, the Japanese telecommunications company, said on Tuesday that it planned to sell about $8 billion worth of its stake in the Alibaba Group of China to help pay down its debt load.

It will be the first time that SoftBank has sold any of its shares in the Chinese e-commerce giant since first investing in that company 16 years ago, becoming one of the first believers in Alibaba’s potential.

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