The Japanese company’s losses in Uber were mitigated by an increase in the values of its DoorDash and Slack stakes. Once the merger of wireless carrier Sprint—of which SoftBank owns a majority—and T-Mobile is finalized, the investing giant will be able to write off significant debts from its subsidiary. (The Logic)
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The Japanese company’s losses in Uber were mitigated by an increase in the values of its DoorDash and Slack stakes. Once the merger of wireless carrier Sprint—of which SoftBank owns a majority—and T-Mobile is finalized, the investing giant will be able to write off significant debts from its subsidiary. (The Logic)
Talking point: SoftBank is currently trying to raise money for a US$108-billion fund. Apple, Microsoft and the sovereign wealth funds of Saudi Arabia and Abu Dhabi are all considering investing, but SoftBank has yet to close the fund. Wednesday’s results are mostly trending in the right direction for SoftBank. Operating profit at the firm’s existing US$100-billion fund tech rose 66 per cent for the three months ending June. Much of those earnings exist only on paper, however, and some of SoftBank’s biggest bets, such as Uber and WeWork, have struggled post SoftBank’s involvement. SoftBank wants to start investing out of the new fund next month.
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