Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Softbank Group shares slide 3% after Didi, Arm, Grab triple setback

Stock MarketsDec 03, 2021 08:01AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: Tokyo, Japan, Feb. 4, 2021. REUTERS/Kim Kyung-Hoon//File Photo

HONG KONG (Reuters) - Shares in Japanese conglomerate SoftBank Group Corp dropped over 3% on Friday after the giant tech investor was hit with three disappointments within 24 hours, including a poor Nasdaq debut for ride-hailing firm Grab.

SoftBank, either in its own right or through its Vision Fund, has made a string of massive investments around the world, often in large technology companies.

Its shares fell to as low as 5,423 yen ($47.89) on Friday, before settling slightly higher but with losses of 23% over three weeks.

Chinese ride-hailing giant Didi Global, which is 21.5% owned by the Vision Fund, said earlier Friday it would delist from the New York Stock Exchange and pursue a listing in Hong Kong, after coming under pressure from Chinese regulators over data security.

A few hours earlier, the U.S. Federal Trade Commission sued to block U.S. chip company Nvidia (NASDAQ:NVDA) Corp's more than $80 billion planned acquisition of British chip technology provider Arm, which is owned by SoftBank, adding to already significant global regulatory challenges of the deal.

A few hours before that, shares of Grab, Southeast Asia's biggest ride-hailing and delivery firm, slid more than 20% in their Nasdaq debut on Thursday following the company's record $40 billion merger with a blank-check company.

The Vision Fund is Grab's largest shareholder owning about 18.6% of the company.

"As long as such news is there, we would have to wait and hold off buying SoftBank Group," said Shigetoshi Kamada (NASDAQ:KMDA), general manager at the research department at Tachibana Securities. "Every time we see negative factors on SoftBank, we have to sell its shares."

The group reported a second-quarter loss last month as its Vision Fund unit took a $10 billion hit from a decline in the share price of its portfolio companies.

"We don't have a comment," a SoftBank Group spokesperson said when asked about the FTC's opposition to Nvidia's purchase of Arm.

He also declined to comment on Didi's plans to delist from the New York stock exchange and Grab's share debut, saying they were investments made by the Vision Fund and not by SoftBank directly.

Softbank Group shares slide 3% after Didi, Arm, Grab triple setback
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email