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by M.G. Siegler


The Market Values SoftBank At Roughly *Negative* $100 Billion

Michael J. de la Merced on a financial oddity:

But SoftBank shares currently trade at a steep discount compared with the sum of those parts. The hedge fund Tiger Global Management recently calculated that SoftBank’s net asset value is $190 billion. SoftBank’s entire market capitalization as of Friday is about $94 billion.
SoftBank’s stake in Alibaba alone is now worth nearly $132 billion, or 40 percent more than SoftBank’s market cap. But its stock price hasn’t moved in lock step with the internet company in the way you might have expected it to. In fact, it hasn’t moved much in years.

It is fascinating just how differently these holdings are valued -- mark them a discount, sure, but come on -- the same used to be true with Yahoo back in the day, which would lead folks to joke that Yahoo was worthless. SoftBank is a lot of things. One thing they're not is Yahoo. They clearly need to separate SoftBank the business from SoftBank the holding company/investor.


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