SoftBank to buyback 14.2% of stock for $4.4 bn
Japanese telecommunications major SoftBank on Monday announced that it will buyback up to 14.2% of its total shares issued, worth approximately $4.4 billion. Notably, this comes amid media reports that the company is saddled with debts amounting to around $100 billion. Earlier, SoftBank reported an 88% year-on-year fall in profits to $20 million for the quarter ended December.