Wealth Tribune

Monday, October 14, 2024
Monday, October 14, 2024
All Right Reserved. Designed and Developed by PenciDesign
Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
Home Business SoftBank sells 45 million shares in Uber – source

SoftBank sells 45 million shares in Uber – source

by Wanda Rich
0 comments
2021 07 28T224841Z 1 LYNXMPEH6R1N0 RTROPTP 4 UBER DRIVERS 1

(Corrects SoftBank’s ticker symbol in paragraph 1)

By Echo Wang

(Reuters) -SoftBank is selling about 45 million of its shares in Uber Technologies Inc, a source familiar with the matter told Reuters on Wednesday.

Uber shares were down 4.6% at $44 in extended trading.

Any buyer will have a 30-day lockup period, the source said.

The person added that the Japanese investment giant’s motive was unrelated to the performance of Didi Global and Alibaba and SoftBank just thought it was a good time to cash out partially on its Uber stake and take some profit.

CNBC had first reported the sale, saying it was to cover for losses seen in its investment in Didi and Alibaba.

SoftBank’s stake in Uber is now down to less than 100 million shares, CNBC added, citing one source.

(Reporting by Rithika Krishna in Bengaluru; Editing by Maju Samuel)

Recent Post

Wanda Rich has been the Editor-in-Chief of Global Banking & Finance Review since 2011, playing a pivotal role in shaping the publication's content and direction. Under her leadership, the magazine has expanded its global reach and established itself as a trusted source of information and analysis across various financial sectors. She is known for conducting exclusive interviews with industry leaders and oversees the Global Banking & Finance Awards, which recognize innovation and leadership in finance. In addition to Global Banking & Finance Review, Wanda also serves as editor for numerous other platforms, including Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune.