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US investment manager cuts SoftBank stake by half vs June 2013 -filing
April 22, 2014 / 2:31 AM / 4 years ago

US investment manager cuts SoftBank stake by half vs June 2013 -filing

TOKYO, April 22 (Reuters) - U.S. investment manager Capital Research and Management cut its stake in Japanese mobile operator SoftBank Corp by about half to 6.67 percent compared with June last year, a regulatory filing showed on Tuesday.

SoftBank shares have fallen 15 percent so far this year after almost doubling in value last year, partly driven by expectations that its 37-percent held Chinese e-commerce operator Alibaba Group Holding Ltd would launch an initial public offering.

The benchmark Nikkei average has lost about 11 percent during the same period. (Reporting by Dominic Lau; Editing by Chang-Ran Kim)

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