Why Is SoftBank Selling $7.9B Shares of Alibaba Group Holding Ltd (BABA)?
Alibaba Group Holding Ltd has agreed to acquire $2 billion of its own shares from SoftBank, which is the e-commerce company’s largest shareholder. In a bid to reduce its debt, SoftBank is selling $7.9 billion of shares of the e-commerce company in a series of transactions announced Wednesday. The shares sale will cut SoftBank’s stake in the company to 28% from 32.2%….