SoftBank Said to Consider Stake Sale in M&A Adviser Raine Group

SoftBank Group Corp. is considering selling its stake in the holding company of Raine Group, the merchant bank that’s advised on some of the Japanese company’s biggest deals, people familiar with the matter said.

The potential stake sale would fit into SoftBank’s retrenchment from a deal-hungry technology conglomerate to one more focused on smaller investments, according to the people.

SoftBank owns a small minority stake in Raine, they said, asking not to be identified discussing confidential information. Deliberations are ongoing and there’s no certainty they’ll lead to a transaction.

A representative for SoftBank declined to comment, while a spokesperson ...