SoftBank bids to buy Uber shares at 30% discount

Uber has had an abysmal year, with its co-founder and former CEO resigning under pressure and the company admitting it concealed a hack that exposed personal data

SoftBank Group and a group of investors are trying to buy a stake in Uber Technologies at a sizable discount to the company’s $69-billion valuation, seeking to clinch what would be one of the largest purchases of stock in a private company.

SoftBank and partners including investment firms Dragoneer Investment Group and General Atlantic are offering to spend more than $6 billion for a stake that would value the ride-hailing company at $48 billion, or about 30 per cent lower than the valuation it fetched in its most recent round of fundraising, according to people familiar with the deal.

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