Monday, December 12, 2016

Apple Held Talks to Invest up to $1 Billion in SoftBank Tech Fund, Reports Say

The report comes on the heels of a meeting between SoftBank and Trump


Apple held talks to invest in $100B SoftBank fund:
Apple and president-elect Donald Trump have something in common: They've both held talks with leaders of one of the world's biggest technology investment funds, according to The Wall Street Journal.
Apple held talks to invest up to $1 billion in SoftBank's $100 billion technology fund, unnamed sources told The Wall Street Journal in a report published on Monday. The status of those talks are currently unclear and nothing has been finalized, the Journal reported.
A Reuters source also reported Apple and SoftBank are in talks about the investment in a new technology fund.

The report comes after Trump hosted SoftBank CEO Masayoshi Son at Trump Tower last week. There, Son reiterated his plans to invest in more U.S. technology companies, revealing documents that showed an agreement to invest up to $50 billion of the fund in the U.S., aiming to create 50,000 jobs.
Japan-based SoftBank has long had ties to Apple, after the pair collaborated on the release of the iPhone in Japan, the Journal reported. Indeed, at Trump Tower last week, Son's documents also featured the logo of Foxconn, also known as Hon Hai, a supplier for Apple's iPhones.
Still, a $1 billion investment would be a relatively rare move for Apple, who despite hoarding $237.6 billion in cash, rarely makes big, high-profile purchases. CNBC has reached out to Apple for comment. 

No comments:

Post a Comment