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SoftBank leaves investing to Vision Fund after record loss

Jun 01, 2020 - The Daily Telegraph (London)

SOFTBANK will stop taking joint stakes in companies alongside the Vision Fund to make clear where "responsibility" lies for their performance, after failed bets from the investment vehicle incurred billions of dollars in losses.

Yoshimitsu Goto, SoftBank's chief financial officer, told investors on a call that the technology conglomerate would look to separate its investment operations from the Saudi-backed fund, just days after it reported a historic $13bn (£10.5bn) loss for the year. Th...