REPORT: SoftBank is looking to buy Fortress for more than $3 billion - and Fortress is soaring

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Masayoshi Son SoftBank

REUTERS/Kim Kyung-Hoon

SoftBank, the hyper-acquisitive Japanese telecommunications giant, is nearing a deal to buy the investment management firm Fortress Investment Group, Bloomberg reports, citing Dow Jones.

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Fortress' stock soared 25% in after-market trading on the news.

More to come...