SoftBank to book $34b gains from cutting Alibaba stake

SoftBank to book $34b gains from cutting Alibaba stake

The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato/File photo

SoftBank Group Corp said on Wednesday it would book a gain of $34.1 billion by cutting its stake in Alibaba Group Holding, as the investment behemoth looks to shore up its cash reserve to weather the market downturn.