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© Reuters. FILE PHOTO: FILE PHOTO: The SoftBank Group Corp logo is displayed at the SoftBank World 2017 conference in TokyoTOKYO (Reuters) – Shares of SoftBank Group Corp (T 🙂 fell 5% in early trading on Monday, as the conglomerate’s big bets on equity derivatives tied to listed tech companies left investors uneasy. .
The Japanese financial powerhouse has spent billions of dollars buying shares in tech companies like Amazon (O 🙂 as it parks the cash generated by a massive asset sale program.
The group has also made significant option purchases in technology companies, sources familiar with the matter told Reuters, in an aggressive bet by Chief Executive Masayoshi Son on the rise in technology shares.
The $ 4 billion options generated exposure of about $ 50 billion, the Wall Street Journal reported. The group has made $ 4 billion in business profits from those bets, the Financial Times reported.
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