Tuesday, 28 November 2017

Japan's Softbank 'bids for stake in Uber' at a valuation of $48bn

Japan's Softbank has reportedly made a heavily discounted bid to buy Uber shares at a valuation of $48bn (£36bn).

If the deal goes ahead, Softbank would acquire the stock for nearly 30% less than Uber's most recent valuation of $69bn.

The Japanese conglomerate is leading a consortium of firms that is planning to buy at least 14% of the ride-sharing firm.

Neither Uber or Softbank would make any comment on the reports to the BBC.

Reports of its offer come nearly two months after the world's most valuable start up approved a huge investment by Softbank.
And while the size of the potential investment has not been disclosed, earlier this month Uber said the money would fuel its expansion and investments in technology.

It would pave the way for a share listing by 2019 and transform the company's corporate structure.

BBC      News.

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