Softbank in talks to acquire stake in Swiss Re worth up to $10 billion: WSJ
Japan's biggest mobile-phone carrier Softbank Group Corp. is in talks to acquire a stake in Swiss Re AG worth up to $10 billion or more, The Wall Street Journal reported Wednesday, citing people familiar with the matter. Swiss Re executives recently traveled to Tokyo to discuss the sale of up to a third of the reinsurer with Softbank's Chief Executive Masayoshi Son, said the journal. Son has invested in a variety of companies and technologies, including e-commerce, driverless cars and virtual reality, and Softbank is majority owner of U.S. wireless company Sprint Corp. Swiss Re has a market cap equal to about $33 billion, said the journal.
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