Debt-laden SoftBank Group, the largest stakeholder in Alibaba Group, is looking to sell$7.9 billion worth of shares in the Chinese e-commerce giant. This will reduce its stake to nearly 28% from 32.2%. The move comes at a time when SoftBank is fuelling money into US wireless carrier Sprint Corp, which is battling fierce competition.

Investors of SoftBank remain wary of the company’s commitment to Sprint Corp, which is the fourth largest wireless carrier in all of the America. SoftBank, however, is looking to focus on this investment, while pulling out of Alibaba. Alibaba and SoftBank, however, will continue maintaining a strategic partnership.

SoftBank invested in Alibaba back in 2000, for just $20 million. Chief executive officer of SoftBank, Masayoshi Son, will remain a director at Alibaba. Alibaba executive chairman Jack Ma will also remain on the board of SoftBank. Considering the relationship between the two companies, SoftBankhas agreed to not sell any of its shares for the next six months.

SoftBank’s shares finished flat on the Japanese stock market on Wednesday and are trading 15% lower—the lowest in nearly a year.SoftBank may also be looking to sell its stakes in Finnish smartphone game maker Supercell to pare its debt. Shares of Alibaba also fell 2.8% on Tuesday.

At the end of the March quarter, Alibaba had racked up a debt of $107 billion (11.9 trillion Yen). 4 trillion Yen was the debt from Sprint.

Separately, Reuters reports that there is speculation that US’ Yahoo is also looking to sell 15% of its shares in Alibaba. This cannot be verified.

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