SoftBank Says Considering Investment in Uber But no Final Agreement Reached
SoftBank and Dragoneer are leading a consortium that plans to invest $1 billion to $1.25 billion in Uber, the most highly valued venture-backed company in the world, along with a purchase of up to 17 percent of existing shares in a secondary transaction.
SoftBank Says Considering Investment in Uber But no Final Agreement Reached (Photo: Reuters/Toby Melville)
Japan's SoftBank Group Corp said on Tuesday it was considering investing in Uber Technologies Inc 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 most 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 Kalanick struck a peace deal, reaching an agreement over terms of the planned SoftBank investment.
The Japanese tech and telecoms firm have become a prolific investor in ride-sharing firms such 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.
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