SoftBank worth less than its Alibaba stake after 4-day stock slide

Tokyo

SOFTBANK Group Corp tumbled below the value of its stake in Alibaba Group Holding Ltd amid growing concerns about the Japanese company's other assets, including struggling US wireless carrier Sprint Corp.

SoftBank's market capitalisation fell to 5.46 trillion yen (S$66 billion) after a four-day stock slide triggered by rising pessimism about Sprint's ability to pay down debt. The Tokyo- based company's stake in Alibaba is worth about US$55 billion, according to its own website.