Softbank ‘s investment in UBER still not decided

Today the Japanese company SoftBank Corp. (subsidiary of SoftBank Group) has made clear that while “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 and the SoftBank Group side is considering an investment in Uber, there is 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”, points the official communication published today by the Asian tech multinational.

UBER elevate (uber AIR). Pick from the promotional video. © UBER.

Yesterday some media assured that both companies UBER and SoftBank had signed an agreement under which a group of investors led by SoftBank would purchase a pack of UBER shares for $1Bn. The shares to be acquired were valued at $9Bn.

The agreement also included changes in the corporate government limiting the power of UBER’s CEO, it is said that SoftBank aims to take a 14% stake in the capital equity of UBER.

The purchase intentionby SoftBank and the investors group the multiantional is leading  comes once UBER has unveiled earlier this same month plans to launch UBER elevate, a new on demand and clean urban transportation system by electric planes, or electric flying cars as UBER names them.

Image over the headline.- © UBER

Related external links:

uberAIR: Closer than you think (Uber Elevate)

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