SoftBank Now Owns a Major Part of Uber

Posted by at 7:25 am on January 1, 2018

SoftBank Group Corp., a major owner of Sprint in the U.S., has taken a major stake in Uber Technologies Inc. at a steep discount to the company’s previous valuation.

Uber investors and employees tendered shares equal to about 20% of the company in an offer by a SoftBank-led consortium that values Uber at $48 billion—a roughly 30% discount to its most recent valuation of about $68 billion, per a report in WSJ.

The group will end up acquiring slightly less: SoftBank itself will own about 15% of Uber, and other members of SoftBank’s bidding group will get a stake of around 3%.

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