SoftBank Group Corp. said it planned to sell up to ¥4.5 trillion ($41 billion) of its assets to buy back shares and redeem debt, in an unprecedented move to combat the tumbling price of its stocks and bonds.

The company said it would spend up to $18 billion for share buybacks after the global markets rout caused by the coronavirus pandemic raised concerns about the value of its investments and one of the world’s most aggressive activists had pushed for a large buyback.

Read More