SoftBank Selling $14 Billion in Alibaba Shares?
Bloomberg in the US reported that SoftBank is apparently lining up to sell a huge $14 billion in Alibaba shares in order to shore up business which is taking a pounding following the outbreak of novel cooronavirus:
Mar.23 — SoftBank is said to be planning to sell $14 billion of its shares in Alibaba. The move is part of a larger plan to shore up its business battered by the coronavirus pandemic. Bloomberg’s Lulu Chen reports on “Bloomberg Markets: China Open.”
Bloomberg Markets
If SoftBank were to offload this much Alibaba stock, what do you think would happen to the share price in the short, medium and longer term? Leave a moderated, public comment, below.
In This Story: Hong Kong
Hong Kong, officially the Hong Kong Special Administrative Region of the People’s Republic of China (HKSAR), is a metropolitan area and special administrative region of the People’s Republic of China on the eastern Pearl River Delta of the South China Sea. With over 7.5 million residents of various nationalities in a 1,104-square-kilometre (426 sq mi) territory, Hong Kong is one of the most densely populated places in the world.
Hong Kong became a colony of the British Empire after the Qing Empire ceded Hong Kong Island at the end of the First Opium War in 1842. The colony expanded to the Kowloon Peninsula in 1860 after the Second Opium War and was further extended when Britain obtained a 99-year lease of the New Territories in 1898. The whole territory was transferred to China in 1997. As a special administrative region, Hong Kong maintains separate governing and economic systems from that of mainland China under the principle of “one country, two systems”.