Economic news

SoftBank buys 15% stake in Uber

Japan-based SoftBank won a tender for the purchase of a 20% stake in Uber, The Wall Street Journal reported.

The deal will be held at a big discount - almost 30%. SoftBank Group Corporation plans to buy back Uber securities belonging to a group of investors and employees of the company itself.

Uber is valued at $48 billion. As part of the deal, SoftBank will invest at least $1 billion in Uber.

Nevertheless, it is not known yet when exactly Uber will go public. As previously reported, the initial public offering is expected in early 2019.

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