SoftBank to sell 5% of domestic telco to raise cash
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TOKYO (Reuters) - SoftBank Group Corp said it plans to sell 5% of its domestic telco SoftBank Corp as part of its plan to raise $41 billion through asset sales. The sale of 240 million shares for a yet to be determined price is set to close on May 26 and will leave SoftBank Group with a 62.1% stake in Japan's third-largest wireless carrier.SoftBank needs cash for a record stock buyback aimed at supporting the price of its shares, which have been used by Chief Executive Masayoshi Son as..