Elliott Pushes SoftBank to Buy Back Shares After Taking Stake.

SOFTBANK Group Corp.; REDEMPTION (Law); STOCK repurchasing; SON, Masayoshi, 1957-; ELLIOTT Management Corp.; EQUITY stake; STOCKS (Finance); NET Asset Value; INVESTORS

Elliott Management, a US activist investor, has acquired a stake worth over $2 billion in SoftBank Group Corp. and is urging the Japanese investment firm to initiate a $15 billion share buyback. This move by Elliott marks the second time it has targeted SoftBank, with the previous attempt resulting in SoftBank increasing its buybacks. The investment comes as SoftBank plans to focus on investments in artificial intelligence (AI) and other fields, following the rise in value of its assets, including chip unit Arm Holdings Plc. However, analysts suggest that SoftBank may prioritize its long-term strategy over immediate returns and may be less inclined to conduct buybacks. [Extracted from the article]

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