Softbank plan­ning to in­vest in Uber

Business Daily (Kenya) - - MARK TO MARKET -

Ja­pan’s Softbank Group Corp said yes­ter­day 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 mostly 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 rideser­vices com­pany, and for­mer chief ex­ec­u­tive Travis Kalan­ick struck a peace deal, reach­ing agree­ment over terms of the planned Softbank (9984.T) in­vest­ment.

In­vest­ment could be worth up to $10 bil­lion, two peo­ple fa­mil­iar with the mat­ter have said

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