SoftBank builds $1.2 bln Amazon stake; invests in Netflix, Tesla
17/08/2020 16:29
* SoftBank has built stakes in Netflix, Tesla, Microsoft
* Bought stake in Nvidia after exiting the firm last year
* SoftBank has spent around $10 billion buying shares
By Sam Nussey
TOKYO, Aug 17 (Reuters) - SoftBank Group Corp 9984.T has
built a stake worth around $1.2 billion in e-commerce firm
Amazon AMZN.O , regulatory filings showed on Monday, as the
tech conglomerate expands its investing activities beyond its
recent focus on unlisted startups.
Chief Executive Masayoshi Son last week announced a new
investment management subsidiary that would park excess cash
from a massive asset sale programme in liquid stocks. SoftBank
has spent around $10 billion buying shares. urn:newsml:reuters.com:*:nL4N2FD1GW
In addition to Amazon, the group has built stakes in Netflix
Inc NFLX.O , Tesla Inc TSLA.O , Microsoft Corp MSFT.O and
Alphabet Inc GOOGL.O , filings showed.
Graphic - SoftBank's newly disclosed listed holdings https://graphics.reuters.com/SOFTBANK-INVESTMENTS/dgkpldrljpb/index.html.
SoftBank also disclosed a stake in chip supplier Nvidia Corp
NVDA.O worth around $220 million based on Friday's closing
price. It exited its stake in the firm last year. SoftBank is
currently in talks with Nvidia over a possible sale of chip
designer Arm, media have reported.
The group is pivoting towards investing outside the $100
billion Vision Fund with its focus on unlisted, late stage
startups. The fund has buffeted the group's earnings as the
value of its holdings have fallen below acquisition price.
The value of many of the listed shares is rising, driven by
a tech stock rally, with Tesla's shares up more than 60% since
the end of June. Son has dropped operating profit as a measure
of his group's performance, saying the value of the assets is a
better yardstick.
SoftBank also disclosed stakes in Chinese video sites
Bilibili Inc BILI.O and iQIYI Inc IQ.O . iQIYI is currently
being probed by the U.S. Securities and Exchange Commission.
urn:newsml:reuters.com:*:nL4N2FF4DY
(Reporting by Sam Nussey
Editing by Nick Zieminski)
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