Zynga rises after SoftBank reports stake

|About: SoftBank Group (SFTBF)|By:, SA News Editor

Japanese tech/telecom giant SoftBank (SFTBF) has reported a 0.8% passive stake in Zynga (ZNGA +2.9%). Shares of the social game developer have rallied in response, and are close to their 52-week high of $4.97.

SoftBank's empire includes Sprint (80%-owned), a 37% stake in Chinese e-commerce giant Alibaba, and Japan's third-largest mobile carrier.