Good morning! Today, we talk about how the future of SoftBank investments in Latin America becomes unclear. Bolsonaro’s September 7 plans on everyone’s lips. Supreme Court justices ask for a raise at a tricky time.
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SoftBank’s uncertain Latin America position
Japanese investment behemoth SoftBank reported that it lost USD 23 billion in the quarter ending in June (its first fiscal quarter of the year) after its massive bets on the tech sector went haywire in Q2. Now, just four months after saying it did not intend to slow down investment in Latin America, SoftBank’s Latin America Funds have gone silent about what’s to come.
State of play. To investors, SoftBank founder and CEO Masayoshi Son admitted that “many lessons were learned” and that the group — “in defense mode” since the previous quarter, when it had also posted enormous losses — would cut operational costs across the globe while investing more systematically and with lower tickets than before.
Why it matters. With 103 of its 473 investees in Latin America, SoftBank...