NEW YORK (Reuters) – SoftBank Group Corp Chief Executive Masayoshi Son, under pressure from hedge fund Elliott Management to rein in his mercurial investment style, turned on the charm in a meeting with U.S. investors on Monday, but offered few concrete concessions.
FILE PHOTO: People walk behind the logo of SoftBank Corp in Tokyo December 18, 2014. REUTERS/Toru Hanai
“I promise you I’ll start to be more careful and listen. My view doesn’t change, but my behavior becomes a little more careful,” sources quoted Son as telling investors who attended his presentation at the Lotte New York Palace hotel in Manhattan.
Son, who built SoftBank into a technology investment powerhouse, is now having to defend his track record after several of its expensive bets on startups, including office space-sharing firm WeWork, soured.
Elliott, which oversees $40 billion in assets, has held discussions with SoftBank’s management and is calling on the company to buy back some $20 billion of…
Source Reuters Tech News
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