November 1, 2019 / 1:33 PM / 16 days ago

Softbank Group says to book $2.56 bln Q2 gain on Alibaba stake

TOKYO, Nov 1 (Reuters) - SoftBank Group Corp said on Friday it would book a 277 billion yen ($2.56 billion) gain in the second quarter after portfolio company Alibaba Group Holding recorded a $9.7 billion gain related to its stake in Ant Financial.

SoftBank, which will report earnings for the July-September quarter on Nov. 6, has a 26% stake in Alibaba and will report the gain under income on equity method investments.

$1 = 108.1000 yen Reporting by Sam Nussey; editing by David Evans

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