SoftBank Buys into Drugmaker Roche for $5bn: FT

(AF) SoftBank has bought $5 billion of non-voting shares in Swiss pharmaceutical giant Roche, whose value has soared on the back of demand for Covid tests, the Financial Times reported.

The deal was executed by the Japanese investment giant’s SB Northstar unit, which came under pressure after making huge losses in a derivatives blow-up that included stock in scandal-hit German payments firm Wirecard, the report stated. Full story: Financial Times

Also on AF: SoftBank-Backed Indian Insurance Platform Policybazaar Files for $809m IPO

Mark McCord

Mark McCord is a financial journalist with more than three decades experience writing and editing at global news wires including Bloomberg and AFP, as well as daily newspapers in Hong Kong, Sydney and Melbourne. He has covered some of the biggest breaking news events in recent years including the Enron scandal, the New York terrorist attacks and the Iraq War. He is based in the UK. You can tweet to Mark at @MarkMcC64371550.