SoftBank shares attractive near-term as buyback eyed: UK’s AVI

spike

TOKYO (Reuters) – SoftBank Group’s (9984.T) planned $22.5 billion share buyback presents an attractive buying opportunity but it is not a clear longterm investment, said a London-based investor that has built up a small stake.

FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato

Asset Value Investors (AVI) has spent around $75 million buying SoftBank shares, drawn by the size of the buyback and a nearly $3 billion position taken by activist investor Elliott Management, which is pushing for measures to improve shareholder returns.

Read More