SoftBank eyes 25 percent Swiss Re stake worth $9.6 Billion

Kazuhiro Nogi | AFP | Getty Images

The logo of Japanese mobile provider SoftBank is displayed at an entrance of a shop in Tokyo’s shopping district Ginza on February 8, 2017.

Japan’s SoftBank Group is looking to buy a 25 percent stake in Swiss Re AG worth about $9.6 billion as the firms’ talks over a potential deal advance, Bloomberg reported.

The talks are centering on 100 to 105 Swiss francs a share, Bloomberg said, citing people with knowledge of the matter, adding that the terms of the potential deal were still fluid and that the companies could fail to reach an agreement.

SoftBank declined to comment on the report.

The Swiss reinsurer said last month it was in talks to sell a minority stake to SoftBank, confirming a Wall Street Journal report of the possible sale of up to a one-third stake.