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Holly LaFon
Holly LaFon
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Baron Funds Comments on Softbank Corp

August 30, 2012 | About:

From Baron Funds' second quarter commentary:

Softbank Corp. (STWRY) gained approximately 28% for the second quarter. Softbank is a leading wireless communications service provider in Japan as well as a leading investor in Internet businesses across Asia. After declining on the rumor of losing iPhone/iPad exclusivity, the shares rose when the loss of exclusivity was finally announced. The shares were further boosted in reaction to the terms of Yahoo Inc.'s repurchase of Alibaba Group shares. Softbank holds a 33% interest in Alibaba Group with an implied value of over $10.0 billion. We continue to believe Softbank's core business offers attractive growth potential and that the value of is vast Internet investments are not reflected in the current share price. (Michael Kass)


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