BlackRock raises SoftBank stake to 5.2%
Reuters
Published May 19, 2021 07:28AM ET
TOKYO (Reuters) - BlackRock Inc (NYSE:BLK) has hiked its stake in Japan's SoftBank Group Corp to 5.2%, a filing showed on Wednesday.
Japanese rules require disclosure of stakes in excess of 5%. BlackRock, the world's larget money manager, holds the stake through entities including its Japan business.
A representative for BlackRock in Japan declined to comment on the rationale for the stake hike.
Shares in SoftBank, which reported record profit last week, have tumbled 17% since May 10. The conglomerate has completed a $23 billion share buyback programme, removing support for the shares.
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Written By: Reuters
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