(CNBC) Shares in SoftBank Group jumped 5% on Wednesday after the Japanese tech conglomerate said it would receive shares in telco T-Mobile U.S. worth some $7.59 billion at no additional cost. Masayoshi Son’s conglomerate said late on Tuesday it had told T-Mobile U.S. to issue 48.75 million shares in common stock to it after conditions set out in an agreement made as part of the merger of SoftBank’s U.S. telco Sprint and T-Mobile were met.
SoftBank gets $7.6 billion T-Mobile stake windfall, shares soar
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