SoftBank set for sharp quarterly profit drop amid pressure from Elliott


Japan's SoftBank Group is expected to post a slide in profits for the past quarter, deepening concern about its ability to secure funding for a second Vision Fund and giving activist fund Elliott Management more fodder for a shake-up.

Elliott, the New York-based fund founded by billionaire Paul Singer, has amassed a stake of almost $3 billion in SoftBank and is pushing for changes including $20 billion in stock buybacks, sources said last week. The emergence of Elliott, one of the world's most powerful activist investors,.....

This article is no longer available in our repository.

There could be multiple reasons for this.