SoftBank CEO Masayoshi Son. Photo: Tomohiro Ohsumi/Getty Images

Regulators have approved SoftBank's planned IPO for its domestic telecom unit. The IPO will tentatively be worth 2.4 trillion yen ($21.04 billion), according to Reuters, with SoftBank Group retaining a 66.5% stake. The IPO is set for Dec. 19 with pricing to be determined on Dec. 10.

Why it matters: The move is seen as SoftBank CEO Masayoshi Son's attempt to focus the company on its newer tech investment ambitions — namely its $100-billion fund.

Go deeper

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios


Senate Democrats block vote on McConnell's targeted COVID relief bill

Photo: Stefani Reynolds/Getty Images

Senate Democrats on Wednesday blocked a vote on Republicans' $500 billion targeted COVID-19 relief bill, a far less comprehensive package than the $1.8 trillion+ deal currently being negotiated between the Trump administration and House Democrats.

Why it matters: There's little appetite in the Senate for a stimulus bill with a price tag as large as what President Trump and House Speaker Nancy Pelosi have been calling for. Senate Majority Leader Mitch McConnell's (R-Ky.) "skinny" proposal was mostly seen as a political maneuver, as it had little chance of making it out of the Senate.

The hazy line between politics and influence campaigns

Illustration: Aïda Amer/Axios

