SoftBank Group Corp's Vision Fund is preparing to launch a blank cheque acquisition company and will outline plans in the next two weeks, a source familiar with the matter said, following similar reported comments by the fund's head Rajeev Misra.
The launch would see SoftBank joining the fashion for special purpose acquisition companies - shell vehicles that raise money in an initial public offering before merging with a private company. SoftBank is flush with cash as Chief Executive Masayoshi Son sells down core assets, leading to speculation over his future investment plans.
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