SoftBank to invest in Uber

SoftBank Group has finally taken a decision to invest in Uber, a global transportation technology company headquartered in San Francisco and operating in 633 cities worldwide.

“The Uber board and its shareholders, as well as the SoftBank Group side, have come to a basic agreement on a process for the SoftBank Group to make a future investment in Uber. However, while the SoftBank Group side is considering an investment in Uber, there is no final agreement at this stage,” says SoftBank Group spokesperson.

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 added SoftBank spokesperson.

The SoftBank Group is a global technology player that aspires to drive the information revolution. The SoftBank Group is comprised of the holding company SoftBank Group and its global portfolio of companies, which includes advanced telecommunications, internet services, AI, smart robotics, IoT and clean energy technology providers. In September 2016, Arm Holdings, the world’s leading semiconductor IP company, joined the SoftBank Group. In May 2017, the SoftBank Vision Fund, which invests globally in the businesses and technologies that will enable the next stage of the information revolution, had its first major close with over $93 billion in committed capital.

 

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