Softbank Group says to book $2.56 billion second quarter gain on Alibaba stake

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TOKYO (Reuters) – SoftBank Group Corp (T:) said on Friday it would book a 277 billion yen ($2.56 billion) gain in the second quarter after portfolio company Alibaba Group Holding (N:) recorded a $9.7 billion gain related to its stake in Ant Financial.

SoftBank, which will report earnings for the July-September quarter on Nov. 6, has a 26% stake in Alibaba and will report the gain under income on equity method investments.

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