SoftBank to sell stake worth $7.9 bn in Alibaba
SoftBank Group, the largest investor in Alibaba Group, on Tuesday said it will sell at least $7.9 billion of its stake in the Chinese e-commerce major to raise funds to reduce its debt. The transaction, which marks the first sale of Alibaba shares by SoftBank, would bring down the Japanese firm's stake in Alibaba to 28% from 32.2% in March.