SoftBank happy with Elliott calling its stock undervalued
Activist investor Elliott Management has a 3% stake in the tech and banking conglomerate, whose shares closed 7% up on Elliott’s comments
07 February 2020 - 12:27
Tokyo — On Friday, Japanese telco SoftBank’s CEO Ken Miyauchi welcomed hedge fund Elliott Management’s investment in parent SoftBank Group Corporation saying the activist investor’s assessment of the stock as undervalued is “positive”.
Elliott has built up a roughly 3% stake in the tech conglomerate and is pushing for changes to boost its value including strengthening corporate governance and share buybacks, sources said...
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