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U.S. investment manager cuts SoftBank stake by half vs June 2013: filing
April 22, 2014 / 2:40 AM / 4 years ago

U.S. investment manager cuts SoftBank stake by half vs June 2013: filing

TOKYO (Reuters) - U.S. investment manager Capital Research and Management cut its stake in Japanese mobile operator SoftBank Corp (9984.T) by about half to 6.67 percent compared with June last year, a regulatory filing showed on Tuesday.

Pedestrians walk past a logo of SoftBank Corp outside its branch in Tokyo February 25, 2014. REUTERS/Yuya Shino

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 .N225 has lost about 11 percent during the same period.

Reporting by Dominic Lau; Editing by Chang-Ran Kim

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