Softbank Group mulls hiving off and listing wireless business

Tokyo

SOFTBANK Group Corp said on Monday that it was considering listing its Japanese wireless business to raise a reported US$18 billion in a move that would accelerate the conglomerate's transformation into one of the world's biggest tech investors.

A spin-off - potentially the biggest initial public offering (IPO) by a Japanese company in nearly two decades - would also give the unit more autonomy and help investors with valuing the business and its parent.

SoftBank Group, the shares of which climbed 4 per cent on the back of the news, has a vast range of holdings, including stakes in British chip designer ARM Holdings, struggling US wireless service provider Spri…