Japanese telecommunications corporation SoftBank Group is preparing for an IPO of its mobile division, setting a preliminary offering price of shares at the level of 1,500 yen per unit. Bloomberg reported that the established share price coincides with market estimates, and noted that the cost of the mobile division of SoftBank, thus, is estimated at $65 billion. The initial public offering of the mobile division, to be held on December 19 on the Tokyo Stock Exchange, can bring the company about $23 billion and become the largest IPO in the world since the placement of shares of Chinese Alibaba in 2004.
Japan’s Finance Minister Taro Aso expressed worries about the yen’s continual rise, calling it “rapid” and hinting at the strong currency’s impact on exports as Japan struggles through a recession. The yen’s ...
On Tuesday, Ebay Inc. (EBAY.O) announced that it had reached a deal to sell off its classified ads business unit to Adevinta ASA (AD5B), a Norway-based classified ads publisher owned by Danish media company Schibsted (SBSTA.OL). The classified ...
The dollar steadied against its peers on Monday as investors awaited data showing a rebound in the U.S. services sector, a sign that the economy is recovering. The dollar climbed to 107.74 on the yen. It slid to 0.9443 on the Swiss franc. The ...
Australia’s second-largest lender, Westpac Banking Corp. (WBC.AX), announced on Friday that it would pay AUD 8 Million ($5.5 Million) including interest to around 8,000 employees who have underpaid their long service leave entitlements ...
Germany’s second-biggest bank, Commerzbank (CBKG.DE), said on Tuesday that the U.S. activist investor Cerberus Capital Management wants them to slash more than 7,000 jobs as a part of its strategic plan to reduce the company’s ...