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Uber-SoftBank deal has closed, making SoftBank largest shareholder

Reuters  |  SAN FRANCISCO 

By Heather SomervilleSAN FRANCISCO (Reuters) - A group of investors led by SoftBank Group Corp closed a deal with Uber Technologies Inc on Thursday, making SoftBank the largest stakeholder in the ride-services firm and providing a much-needed boost to controversy-ridden Uber.The deal includes a large purchase of shares from existing Uber investors and employees at a discounted valuation for the company of $48 billion, a 30-percent drop from Uber's most recent valuation of $68 billion. These secondary stock sales will be completed by the end of the day Thursday on the Nasdaq Private Market, ...

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First Published: Fri, January 19 2018. 02:14 IST
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