Arora to buy $483m stake in SoftBank

SoftBank Group president Nikesh Arora said he is buying about 60 billion yen ($483 million) worth of the company's shares over the next six months, calling it a show of "commitment" to his employer. "I have decided to take a personal bet on the SoftBank Group and ensure an alignment of vision with our founder, chairman and CEO Masayoshi Son," Arora said in a press release from SoftBank Stock Market Trading Tips

Arora plans to buy the shares in the open market. At the closing price of 7,477 yen on Wednesday in Tokyo, his cash would buy just over 8 million shares for a 0.69% stake in SoftBank, making him the second biggest individual investor after Son, who welcomed the investment from his anointed successor. "I expect him to succeed me at the appropriate time," Son said in the press release Financial Astrology Tips