Insiders: Elliott holds over $2 billion in SoftBank shares and is pushing for a $15 billion buyback plan

ChainCatcher news, according to Bloomberg, informed sources revealed that Elliott Management has acquired a significant stake in SoftBank Group Corp. and is pushing for a $15 billion buyback plan.

According to the FT, Elliott has accumulated shares worth over $2 billion and has been in contact with SoftBank executives in recent months. Elliott believes that such a large-scale stock buyback will help founder Masayoshi Son convey his confidence in SoftBank to the market. The company's stock price rose 4.6% in Tokyo.

This is Elliott's second attempt at SoftBank, which was once one of the largest and most influential technology investment firms in the world. Elliott accumulated about $3 billion in shares in 2020, after which SoftBank significantly accelerated its buyback pace. Elliott later sold most of its stake in SoftBank.
A representative from SoftBank declined to comment. A representative from Elliott did not immediately respond to a request for comment.

In recent years, SoftBank has reduced its bets on startups. After the value of key assets like Arm Holdings Plc soared, the company is preparing to increase its investments in artificial intelligence and other areas.