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Softbank in talks to buy stake in Swiss Re - WSJ

Published 07/02/2018, 19:44
Updated 07/02/2018, 19:50
© Reuters. FILE PHOTO: Logo of SoftBank Group Corp is seen at the company's headquarters in Tokyo
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(Reuters) - Japan's Softbank Group Corp (T:9984) is in advanced talks to buy a stake in Swiss reinsurer Swiss Re AG (S:SRENH) worth $10 billion (7.22 billion pounds) or more, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

Softbank is looking to purchase up to a third of Swiss Re's shares at a premium, the Journal reported. (http://on.wsj.com/2FUF0Eb)

The talks still could fall apart and there might not be a deal, the newspaper said.

The companies were not immediately available for comment.

© Reuters. FILE PHOTO: Logo of SoftBank Group Corp is seen at the company's headquarters in Tokyo

The reinsurer's shares closed at 90.18 Swiss francs on Wednesday.

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