SoftBank says considering investment in Uber but no final agreement reached

Business


TOKYO (Reuters) – Japan’s SoftBank Group Corp (9984.T) said on Tuesday that it was considering investing in Uber Technologies Inc [UBER.UL] but there was no final agreement at this stage.

FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato/File Photo

“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 earlier 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 previously told Reuters.

Reporting by Sam Nussey; Editing by Edwina Gibbs

Our Standards:The Thomson Reuters Trust Principles.



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