LONDON & TOKYO--(BUSINESS WIRE)--SoftBank’s announcement of its intention to commence an initial buyback program of 500 billion yen is clearly an important first step in addressing the Company’s significant undervaluation, and one that Elliott supports. Elliott believes that SoftBank will have opportunities to pursue additional buybacks following the completion of the Sprint/T-Mobile transaction. Elliott trusts that SoftBank’s leadership will continue to build upon today’s progress and its demonstrated commitment to value creation.
Elliott Management Corporation manages approximately $40.2 billion of assets. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds of its kind under continuous management. The Elliott funds’ investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, and employees of the firm. Elliott Advisors (UK) Limited is an affiliate of Elliott Management Corporation.