Plus   Neg

SoftBank Plans Sale Of Stake In Nvidia Early Next Year: Bloomberg

SoftBank Group Corp. is planning to sell its stake in Nvidia Corp. (NVDA) early next year as shares in chipmaker continue to slide, the Bloomberg reported, citing people familiar with the matter.

The Japanese investor could make about $3 billion in profit from the trade, the report stated.

No final decision has been made and SoftBank may opt to keep its stake or sell only part of it, the report added.

Representatives for SoftBank and Nvidia declined to comment.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Tesla has been ordered to stop work at the site of its proposed $4-billion Gigafactory in the German state of Brandenburg due to environmental concerns, according to reports. The proposed factory was going to be Tesla's first Gigafactory in Europe and its fourth in the world. On Saturday, a German court reportedly ordered the company to stop cutting down trees on the 300-hectare site. Dairy Farmers of America (DFA) on Tuesday inked an agreement with bankrupt diary company Dean Foods Co. to become the Stalking Horse Bidder, in a court-supervised sale process, to acquire a substantial portion of Dean's assets and business. While filing for bankruptcy in November last year, Dean Foods had said it was in advanced discussions with the farmer-owned Cooperative. Franklin Resources, Inc. (BEN), a global investment management organization operating as Franklin Templeton, agreed Tuesday to acquire Legg Mason, Inc. (LM) for $50.00 per share of common stock in an all-cash transaction of $4.5 billion. Franklin Templeton will also assume approximately $2 billion...
Follow RTT