Activist investor Elliott sells down remaining SoftBank stake: Report

Activist investor Elliott Management has sold almost all its remaining shares in SoftBank Group Corp after previously investing as much as $2.5 billion, the Financial Times said on Tuesday, citing unidentified sources.
 

Elliott had already cut back its stake as the Japanese conglomerate's shares appreciated, supported by a record buyback programme. SoftBank's portfolio has subsequently been hit by a collapse in tech valuations as investors turn sceptical on the high-growth stocks it favours.
 

SoftBank's shares exceeded dot-com bubble highs in March 2021 but have lost almost half their value as its portfolio slid. The group this month reported a loss