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SoftBank to dissolve stake in Swedish cloud computing provider Sinch

SoftBank to dissolve stake in Swedish cloud computing provider Sinch

FILE PHOTO: FILE PHOTO: SoftBank Corp's logo is pictured at a news conference in Tokyo, Japan, February 4, 2021. REUTERS/Kim Kyung-Hoon/File Photo/File Photo

Swedish cloud computing services provider Sinch AB said on Thursday that Japan's SoftBank Group Corp would dissolve its entire stake in the company.

Softbank will sell its 5 per cent stake to Sinch's chief executive, Johan Hedberg, and its largest shareholder, Neqst D2.

Investment company Neqst D2 will hold about 18.6 per cent of Sinch's outstanding stake at the completion of the sale, Sinch added.

Source: Reuters
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