CONTACT US

For any general inquiries, please fill in the following contact form:

Our websites never use cookies or other technologies such as pixel tags and web beacons. We only retain personal information when the contact section of our websites is filled. To proceed and get in touch with us through this format please read our Terms & Conditions, updated to be in line with the provisions of the GDPR, and tick this box to consent in us retaining the above information for contacting purposes only.

SUBMIT

SoftBank says considering investment in Uber but no final agreement reached

SoftBank says considering investment in Uber but no final agreement reached

Reuters Staff

TOKYO (Reuters) - Japan’s SoftBank Group Corp (9984.T) said on Tuesday it was considering investing in Uber Technologies Inc [UBER.UL] but there was no final agreement at this stage. 

“If conditions on share price and a minimum of shares are not satisfactory for the SoftBank Group side, there is a possibility the SoftBank Group may not make an investment,” it said in a statement.

Uber said this week that a planned deal with SoftBank and Dragoneer Investment Group was moving forward. The investment could be worth up to $10 billion, two people familiar with the matter have said..

SoftBank and Dragoneer are leading a consortium that plans to invest $1 billion to $1.25 billion in Uber, the mostly highly valued venture-backed company in the world, along with a purchase of up to 17 percent of existing shares in a secondary transaction.

Progress in the negotiations came after venture capital firm Benchmark, an early investor with a board seat in the ride-services company, and former Chief Executive Travis Kalanick struck a peace deal, reaching agreement over terms of the planned SoftBank (9984.T) investment. 

The Japanese tech and telecoms firm has become a prolific investor in ride sharing firms such as China’s Didi and India’s Ola as it works to achieve SoftBank founder Masayoshi Son’s vision of a future driven by artificial intelligence and interconnected devices.

(This story adds dropped word in last paragraph.) 

Reporting by Sam Nussey; Editing by Edwina Gibbs

http://www.reuters.com/article... 

MORE NEWS

Santander Joins List of Banks in German Tax-Dodge Crackdown

Santander Joins List of Banks in German Tax-Dodge Crackdown
Banco Santander SA became the latest addition to a long list of banks targeted by German prosecutors over controversial tax-driven ...

China Threatens Overseas Tax Havens, Will Investors Flock to Crypto?

China Threatens Overseas Tax Havens, Will Investors Flock to Crypto?
Since early 2018, the government of China has tightened policies targeting millionaire investors in the country holding their wealth ...

Ed Sheeran paid more in tax last year than both Starbucks and Amazon

Ed Sheeran paid more in tax last year than both Starbucks and Amazon
He earned less than Starbucks and Amazon made in profits last year but Ed Sheeran paid more in tax than either company.Figures released this...

Who's behind the blog

Who's behind the blog

SOCIAL MEDIA