SoftBank's big bets on two startups have gone belly up. Photo: Reuters
US hedge fund Elliott Management has sold most of its stake in SoftBank, indicating a loss of faith in the Japanese investment group, the Financial Times reported, citing people familiar with the trade.
Elliott made its move after losing confidence in SoftBank founder Masayoshi Son’s ability to turn around the company’s fortunes after steep investment losses, the story said. The sale took place earlier this year, it added.
Read the full report: Financial Times
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