Soaring losses: SoftBank reports near-total wipeout at $100-bn Vision Fund


SoftBank Group reported a near-total wipe out in quarterly profit on Wednesday, after the Japanese technology investor was whiplashed for a second consecutive quarter by losses at its $100 billion Vision Fund.

The dire result is likely to deepen concern about founder Masayoshi Son's ability to secure funding for a second Vision Fund, and give more ammunition to activist investor Elliott Management, which has recently emerged as a prominent shareholder. The numbers are also the latest reminder of the inherent risk in Son's.....

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