Swiss Re: SoftBank stake not expected to exceed 10%

(CercleFinance.com) - At today's investors' day in Zurich, Swiss Re said SoftBank's minority investment in its share capital was expected not to exceed 10%.


"It is less than the 25% reported last week," one analyst stated.

In February Swiss Re had entered preliminary discussions with the Japanese conglomerate regarding a potential partnership and minority investment.

The two groups are now exploring areas of potential strategic cooperation, Swiss Re said.

At today's meeting, the group also provided a strategic update, but failed to give any material changes, with targets remaining largely unchanged, analysts said.

The shares, which are listed on the SIX Swiss Exchange, are currently down 2% at 93.6 Swiss francs after this update.

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