SoftBank to sell $3.1B worth stake in its Japan telecom unit: Reports

SoftBank plans to sell 5% stake in its Japanese wireless subsidiary, worth $3.1 billion, as part of a programme to raise $41 billion through asset sales. SoftBank's ownership stake will fall to 62.1% after the deal, which closes on May 26. Earlier, a report had said SoftBank was looking for buyers to sell shares worth $20 billion in T-Mobile US.