Son's SoftBank plan at risk as Sprint goes from bad to worse
Tokyo
THE acquisition of Sprint Corp was supposed to help Masayoshi Son realise his vision of transforming SoftBank Group Corp into the world's most-valuable company. Instead, the 2013 deal has become his biggest setback so far, dragging down SoftBank shares and cutting into the billionaire's wealth.
SoftBank tumbled on Monday to its lowest level since the Sprint deal closed 2 1/2 years ago. Mr Son's fortune has shrunk by US$3.2 billion over the past 12 months, according to the Bloomberg Billionaires Index, as the Japanese company's stock plunged.
TRENDING NOW
Temasek’s Wan Chee Foong to helm PIL, Lars Kastrup to be board adviser
Chagee, Mixue and Luckin won the market. Sustaining their edge is the harder part
He built the Vingroup empire. Now South-east Asia’s richest man is handing some key roles to his sons
One-third of Singapore-listed firms at risk in severe AI downturn: MAS
