According to Odaily, Elliott Management has acquired a substantial stake in SoftBank Group Corp. and is advocating for a $15 billion buyback plan. Elliott has accumulated shares worth over $2 billion and has been in contact with SoftBank executives in recent months. Elliott believes that such a large-scale stock buyback would help founder Masayoshi Son convey his confidence in SoftBank to the market. The company's stock price rose by 4.6% in Tokyo.
This is the second time Elliott has targeted SoftBank, which was once one of the world's largest and most influential tech investment institutions. In 2020, Elliott accumulated about $3 billion in shares, after which SoftBank significantly accelerated its buyback pace. Elliott later sold most of its shares in SoftBank. A representative of SoftBank declined to comment, and a representative of Elliott did not immediately respond to a request for comment.
In recent years, SoftBank has reduced its bets on startups. After the value of key assets such as Arm Holdings Plc soared, the company is preparing to increase its investment in artificial intelligence and other fields.