Stock Groups

SoftBank mulls options for Fortress, including sale

by Mike Robinson

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© Reuters. FILEPHOTO: SoftBank Group Corp’s logo was displayed during the SoftBank World 2017, Tokyo, Japan. REUTERS/Issei Kato/File Photo/File Photo

(Reuters) – SoftBank Group Corp may sell Fortress Investment Group, Bloomberg News reported Monday, citing sources with knowledge.

Fortress was bought by the Japanese conglomerate Fortress in 2017 for over $3 billion (https://reut.rs/3mzd4xI)

SoftBank could not mesh Fortress operations with itss, so it decided to look at other options. The report also stated that the discussions are still in their early stages.

SoftBank, Fortress and Reuters did not respond immediately to Reuters’ requests for comment.

Fortress is a New York-based firm that was founded 1998. According to their website, Fortress manages assets worldwide for around 1,800 institutions clients as well as private investors.

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