Nov 28, 2017

Softbank makes discounted bid to buy Uber

Japan's Softbank has reportedly made a heavily discounted bid to buy Uber shares at a valuation of $48bn. If the deal goes ahead, Softbank would acquire the stock for nearly 30% less than Uber's most recent valuation of $69bn in June 2016. Neither Uber or Softbank would make any comment on the reports to the BBC. Reports of its offer come nearly two months after the world's most valuable start up approved a huge investment by Softbank. The shake-up could help bring stability to Uber after a difficult year. "We are committed to changing the way we do business, putting integrity at the core of every decision we make, and working hard to regain the trust of consumers," Uber said in a statement.

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