SoftBank says considering investment in Uber but no final agreement reached

Japan's SoftBank Group Corp said that it was considering investing in Uber Technologies but there was no final agreement.
Japan's SoftBank Group Corp said that it was considering investing in Uber Technologies but there was no final agreement. PHOTO: REUTERS

TOKYO (REUTERS) - Japan's SoftBank Group Corp said on Tuesday (Nov 13) that it was considering investing in Uber Technologies but there was no final agreement at this stage.

"If conditions on share price and a minimum of shares are not satisfactory for the SoftBank Group side, there is a possibility the SoftBank Group may not make an investment," it said in a statement.

Uber said earlier this week that a planned deal with SoftBank and Dragoneer Investment Group was moving forward. The investment could be worth up to US$10 billion, two people familiar with the matter previously told Reuters.