Advertisement

Uber shares fall after SoftBank sells a third of its stake

Uber shares have fallen after reports technology investment firm SoftBank is selling around a third of its stake in the US ride-hailing app.
 
According to one report, SoftBank is offloading around $2 billion worth of shares to help cover what it has lost by betting on Chinese ride-hailing firm Didi and other investments.
 
Didi's shares have slumped since their US market debut less than a month ago.
 
That's after a series of actions by Chinese authorities spooked investors.
 
However, Reuters news agency reported that SoftBank's decision to cut its Uber stake was unrelated to the slump in Didi's value and it just felt now was a good time to take some profits.
 
 


comments powered by Disqus
More Stories
Most Popular
Opening of new KFC restaurant in Christiana...
Amazon launches under $20 outlet to compete...
JCA and Ministry of Sports on collision...