As predicted, SoftBank is putting pressure on the price of existing shares it may purchase as a part of its $10 Billion transaction with Uber. The days of Uber’s stratospheric valuation are over. Despite settling its Benchmark-Kalanick conflict, Uber shareholders now face a realistic assessment of the value of existing shares.
In a statement to CNBC, Rajeev Misra, CEO of Softbank Investment Advisors and a Board Director of Softbank Group, said, “After a long and arduous process of several months it looks like Uber and its shareholders have agreed to commence with a tender process and engage with SoftBank. By no means is our investment decided. We are interested in Uber but the final deal will depend on the tender price and a minimum percentage shareholding for SoftBank”