Swiss Re: stock up 5%; SoftBank could enter capital
(CercleFinance.com) - Largely in the lead in the sluggish Zurich SMI index today, Swiss Re shares rose by over 5% after the revelation of preliminary discussions with the Japanese SoftBank Group, which could take "a minority stake" in its capital, the Swiss reinsurer said.
According to the standard formula, the early stages of talks do not suggest that an agreement will finally be reached, said Swiss Re, nor do they reflect final terms.
SoftBank is a Japanese technology conglomerate which includes the national telecom operator of the same name, stakes in Yahoo Japan, the Chinese internet giant Alibaba and VTC Uber service, a majority stake in the US "telco" Sprint, as well as the manufacturer of electronic chips, ARM Holdings.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
According to the standard formula, the early stages of talks do not suggest that an agreement will finally be reached, said Swiss Re, nor do they reflect final terms.
SoftBank is a Japanese technology conglomerate which includes the national telecom operator of the same name, stakes in Yahoo Japan, the Chinese internet giant Alibaba and VTC Uber service, a majority stake in the US "telco" Sprint, as well as the manufacturer of electronic chips, ARM Holdings.
Copyright (c) 2018 CercleFinance.com. All rights reserved.