(Telecompaper) Japan's Softbank Group wants to further expand its cash reserves as a way to respond to market uncertainty and reduce debt further, and will do this by selling part of its stake in Japanese telecom operator Softbank. This will reduce its stake to 40.4 percent from 62.1 percent. The group noted that the unit's importance to the group remains unchanged and that Softbank will be a subsidiary after the secondary offering. The group said it intends to keep its holding for the medium to long term.
