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%.
