SoftBank builds $1.2 billion Amazon stake; invests in Netflix, Tesla

SoftBank Group has built a stake worth around $1.2 billion in e-commerce firm Amazon, regulatory filings showed on Monday, as the tech conglomerate expands its investing activities beyond its recent focus on unlisted startups.

Chief Executive Masayoshi Son last week announced a new investment management subsidiary that would park excess cash from a massive asset sale programme in liquid stocks. SoftBank has spent around $10 billion buying shares.