SoftBank will list mobile carrier unit worth up to $60B

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

SoftBank (OTCPK:SFTBF, OTCPK:SFTBY) plans to list its mobile carrier unit (Japan's third largest carrier) within the next year to strengthen its finances after years of notable acquisitions.

Chief Executive Masayoshi Son made the announcement during a press conference in Tokyo but didn’t say how much the listing would raise or how much SoftBank would use for investments.

Analysts put the unit’s total value from $55B to $60B, which means a minority portion sale could raise almost $20B.

SoftBank’s acquisitions of U.S. mobile carrier Sprint and chip designer Arm Holdings have left the company with high debt and a credit rating that both Moody’s and Standard and Poor’s put at “junk.”

SoftBank founded the Vision Fund and an affiliate fund last year, which total nearly $98B. The funds invested $34B last year, according to Dealogic.

The credit rating agencies say outlooks for SoftBank’s rating depends on how much is floated in the mobile carrier unit.

Previously: Sprint to launch 5G network in 2019 (Feb. 5)

Previously: SoftBank Group reports 9M results (Feb. 7)

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