Activist fund Elliott backs SoftBank's $4.8 billion buyback plan
Reuters
Published Mar 13, 2020 12:19PM ET
Activist fund Elliott backs SoftBank's $4.8 billion buyback plan
(Reuters) - Activist investor Elliott Management said on Friday it supports SoftBank Group Corp's (T:9984) latest move to buy back up to $4.8 billion of its shares.
Elliott also said SoftBank would have opportunities to pursue additional buybacks following the completion of the merger between Sprint (N:S) and T-Mobile (O:TMUS).
Earlier on Friday, SoftBank announced a plan to repurchase up to 7% of its shares as the Japanese tech conglomerate's shares have tumbled by about a quarter in March.
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Written By: Reuters
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