(Reuters) - Japan’s Softbank Group Corp (9984.T) is in advanced talks to buy a stake in Swiss reinsurer Swiss Re AG (SRENH.S) worth $10 billion (7.22 billion pounds) or more, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
Softbank is looking to purchase up to a third of Swiss Re's shares at a premium, the Journal reported. (on.wsj.com/2FUF0Eb)
The talks still could fall apart and there might not be a deal, the newspaper said.
The companies were not immediately available for comment.
The reinsurer’s shares closed at 90.18 Swiss francs on Wednesday.
Reporting by Pallavi Dewan in Bengaluru; Editing by Anil D'Silva