Swiss Re in talks to sell stake to SoftBank

Zurich, Tokyo: Swiss Re said it is in preliminary talks to sell a minority stake to SoftBank Group — a deal that reportedly could be worth $10 billion (Dh36.7 billion) or more, in what would be the Japanese firm’s biggest financial services deal to date. The potential sale of up to one third of the Swiss reinsurer at a premium as reported by the Wall Street Journal would also mark the broadening of already sky-high ambitions that have already seen it raise $93 billion to form its Vision Fund for technology investments. “Swiss Re informs that it is engaged in preliminary discussions with SoftBank Group Corp regarding a potential minority investment in Swiss Re,” the world’s second largest reinsurer said. A SoftBank spokesman declined to comment.