SoftBank to sell nearly all its stake in Alibaba: Report

Japanese investment firm SoftBank Group Corp has moved to sell almost all of its remaining shares in China’s Alibaba Group Holding Ltd , the Financial Times reported citing regulatory filings it had analysed.

Shares in Alibaba, one of the most valuable assets in SoftBank’s portfolio, tumbled as much as 5.1% in Hong Kong following the report before paring the loss to 3.3%. SoftBank shares traded unchanged, tracking a broader market.