It depends how they hedge that investment. A 30% discount on the basis means you can be very aggressive with your hedge positions. I'd say it's way too early t

It depends how they hedge that investment. A 30% discount on the basis means you can be very aggressive with your hedge positions. I'd say it's way too early to speculate yet...but somewhere within softbank, a risk manager is already planning on the whole deal to fail(that's his/her job), and how to keep the effects of that failure from being catastrophic.