The CEO of Softbank Corp, Masayoshi Son, said that the company has not yet made any decision on the speculated initial public offering for Alibaba. In a briefing about the Japanese mobile carrier's quarterly earnings, the CEO said, "There is no firm plan for an Alibaba IPO and I will refrain from commenting." His declaration was in response to the question about the possible impact of the planned IPO in Hong Kong. Softbank owns 36.7% of Alibaba, the largest internet retailer in both China and around the world.
The widely anticipated IPO is expected to happen this year and estimates the company's worth to a staggering USD 100 billion, Reuters reported. There is also no declaration on Alibaba's end on when the IPO will be. The IPO is widely watched by investors as it could help bolster Son's acquisitions abroad. Softbank had earlier closed a deal with Sprint Corp. Softbank bought the mobile carrier for USD 21.6 billion.
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