Softbank says it will sell 5% of domestic telco

FILE PHOTO: A woman using a mobile phone walks past the logo of SoftBank Corp in Tokyo, Japan December 18, 2014. REUTERS/Toru Hanai/File Photo

TOKYO (Reuters) – SoftBank Group Corp (9984.T) said it plans to sell 5% of its domestic telco SoftBank Corp (9434.T) as part of its plan to raise $41 billion through asset sales.

The sale of 240 million shares will leave SoftBank Group with a 62.1% stake in Japan’s third largest wireless carrier.

Reporting by Sam Nussey; Editing by Toby Chopra