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UPDATE 4-Japan's SoftBank plans to sell $7.9 bln in Alibaba stock to cut debt

June 01, 2016

*Between $5 bln and $6 bln to be sold to institutional investors. *Alibaba will buy $2 bln worth of stock. June 1- SoftBank Group Corp said it will sell at least $7.9 billion of shares in Alibaba Group Holding Ltd- a move that will cut the Japanese firm's debt amid worries about losses at its U.S. telecoms unit Sprint Corp.

Source: http://www.cnbc.com/2016/06/01/reuters-america-update-4-japans-softbank-plans-to-sell-79-bln-in-alibaba-stock-to-cut-debt.html
 
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