Softbank Group Corp or SBG (9984 JP) plans to spend 500 bn Yen (c. 4.8 bn$) on Share Buy Backs, potentially purchasing about 7% of currently Oustanding Shares that will then be retired.
- This plan follows Elliots proposal, the amount falls way short though
- Share Buy Backs should (in theory) help closing the Valuation gap (NAV minus fair value)
- I like the news, especially after the strong sell off
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