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SoftBank sells entire stake in troubled cloud firm Sinch

The Swedish company has fallen 93% from a peak in September last year following a string of disappointing earnings reports. The stock is also among the most shorted in Europe.That’s a complete reversal from 2020 when Sinch was lauded as the best performing equity in Europe as virus-related lockdowns fueled demand for its messaging services and investors cheered the company’s aggressive pace of acquisitions.

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