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SoftBank Group says it spent $1.35 billion on share buybacks in October

SoftBank Group says it spent $1.35 billion on share buybacks in October

The repurchases represent a marked escalation from the 40 billion yen spent in September, with the buybacks funded by an asset sale programme that has swelled SoftBank's cash pile

Reuters
  • Updated Nov 9, 2020 2:53 PM IST
SoftBank Group says it spent $1.35 billion on share buybacks in October

SoftBank Group Corp said on Monday it spent 139.3 billion yen ($1.35 billion) repurchasing almost 20 million shares in October, part of a record buyback plan that has pushed the group's share price to near two-decade highs.

The repurchases represent a marked escalation from the 40 billion yen spent in September, with the buybacks funded by an asset sale programme that has swelled SoftBank's cash pile.

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The Japanese conglomerate reports its quarterly earnings on Monday, with investors awaiting details on SoftBank's plans for the cash as the group regains its confidence following a string of soured investments.

Also read: Samsung's flagship smartphone likely to be launched early to grab Huawei share

Published on: Nov 9, 2020 2:40 PM IST
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