SoftBank to Sell US Mobile Phone Distributor

[Asia Economy Reporter Naju-seok] SoftBank is also selling the U.S. mobile phone distributor Bright Star Global Group.

[Image source=Reuters Yonhap News]

According to media reports on the 18th, SoftBank has decided to sell Bright Star Global Group to a newly established subsidiary of the private equity firm Bright Star Capital Partners. The sale price will be paid in cash and a 25% stake in the subsidiary of Bright Star Capital Partners.

SoftBank, while deciding to sell assets worth $41 billion (47.61 trillion KRW), has consecutively sold key assets including the UK semiconductor design company ARM (Arm Holdings), the U.S. mobile carrier T-Mobile, and shares of Alibaba Group, China's largest e-commerce company.

Some media outlets, citing insiders from SoftBank, have also suggested that SoftBank is considering delisting through a management buyout (MBO).