You are using an older browser version. Please use a supported version for the best MSN experience.

SoftBank CEO Says He ‘Shouldn’t’ Comment on Slow-Motion Buyout

Bloomberg logo Bloomberg 23/06/2021 Gearoid Reidy and Pavel Alpeyev

(Bloomberg) -- SoftBank Group Corp.’s Masayoshi Son responded to a question at the company’s annual shareholders meeting about whether he’s considering a “slow-motion” buyout with an awkward no-comment.

“Many things are possible, but it’s hard to comment on it. I shouldn’t comment on it. No comment,” Son said.

Masayoshi Son wearing a suit and tie: SoftBank Group President Masayoshi Son Keynote Address at The JCI World Congress © Bloomberg SoftBank Group President Masayoshi Son Keynote Address at The JCI World Congress

Masayoshi Son

Photographer: Kiyoshi Ota/Bloomberg

SoftBank has discussed the idea of such a buyout, Bloomberg News reported in December. Essentially, the company would buy back its own shares and push up the percentage of the company Son himself owns.

The billionaire founder now holds about a third of the equity in SoftBank, a percentage that climbed after the conglomerate bought back and retired stock in its 2.5 trillion yen repurchase program.

SoftBank shares have fallen about 28% from their peak, reviving the idea of a buyout or another buyback. Asked about potential plans for another stock buyback, Son responded that it could be at anytime and did not commit to a timetable.

Read more: SoftBank Is Said to Discuss ‘Slow-Burn’ Buyout to Go Private

More stories like this are available on bloomberg.com

©2021 Bloomberg L.P.

image beaconimage beaconimage beacon