SoftBank plans to sell up to $21 billion worth of T-Mobile stock

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SoftBank Group Corp. Chairman and Chief Executive Officer Masayoshi Son speaks during a press conference on November 6, 2019 in Tokyo, Japan.

Tomohiro Ohsumi | Getty Images

SoftBank will sell up to about 198 million shares of T-Mobile stock worth about $21 billion, the telecom company announced Monday.

The sale, which represents about 65% of SoftBank’s stake in T-Mobile, is part of SoftBank’s efforts to free up cash as the coronavirus pandemic has hurt several of its key investments.

This story is developing. Check back for updates.

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