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SoftBank funding may spur Uber to re-think foray into Southeast Asian mkt

SoftBank has also been a big investor in Uber's rivals across Asia

Reuters  |  Singapore 

SoftBank Group's multi-billion dollar investment in Uber Technologies Inc opens up the possibility of combining it with other ride-hailing assets the Japanese group owns in a consolidation of a rapidly growing business across Asia, industry sources say. Uber Technologies Inc said on November 12 that a planned deal with a consortium led by SoftBank and Dragoneer Investment Group was moving forward. The consortium plans to inject $1 billion to $1.25 billion into Uber, and buy up to 17 per cent of existing shares in a secondary transaction. SoftBank has also been a big investor ...

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First Published: Tue, November 21 2017. 11:34 IST