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Bloomberg: SoftBank talks to buy Swiss Re stake at standstill

Published 05/02/2018, 12:55 PM
© Reuters.  Bloomberg: SoftBank talks to buy Swiss Re stake at standstill
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  • SoftBank's (SFTBY -0.4%) talks to buy up to a third of Swiss Re (SSREY -1.2%) have hit a snag, Bloomberg reports, with disagreements ranging from price to the ultimate size of SoftBank's stake and how much control Masayoshi Son would get in the deal.
  • Son's focus has also shifted now that Sprint has a deal to merge with T-Mobile, and SoftBank pursues the public float of its mobile unit in Japan, according to the report.
  • Swiss Re execs have tamped down speculation that heavy reinsurance cash flow could fund Son's tech ambitions, saying that talks have been for no more than a 10% stake in the reinsurer.
  • Swiss Re reports earnings on Friday.
  • Previously: SoftBank's Son may be linking insurance bid to ride-hailing stable (Feb. 12 2018)
  • Now read: Swiss Re (SSREY) Investor Presentation - Slideshow


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