Uber-SoftBank deal “very likely” to be finalized in the next week

Downfall of Uber?
By Katie Roof.

The Uber-SoftBank deal is almost done, said Arianna Huffington on stage at WSJ D.Live in Laguna Beach on Monday. When pressed whether SoftBank’s multi-billion dollar investment in Uber could be finalized within the week, the Uber board member replied that it’s “very likely.”

She confirmed media reports that the proposed deal would involve both a direct investment in the company at the last private valuation and also a secondary transaction, buying out existing shareholders at a yet-to-be-determined discount.

Uber is still “waiting on what’s going to transpire in terms of the price,” said Huffington.

She added that having SoftBank “on your cap table is very important when they’re also investing in so many of our competitors around the world.” Implying that there could be more acquisitions in ridesharing, she said to “expect to see some consolidation.”

Read more at TechCrunch.

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