Tiger Global reportedly pours more than $1B into SoftBank, saying its shares are “undervalued”

Tiger Global has poured more than $1 billion into SoftBank Group, according to the Financial Times. The newspaper reports that the firm told investors SoftBank’s shares are “meaningfully undervalued.”
In response to a request for comment, SoftBank sent the same statement to TechCrunch as other media outlets: “We continue to believe the market significantly undervalues our stock and we welcome the support from a sophisticated institutional investor like Tiger Global.&rdquo