At the start of the week, shares in the ride-hailing service provider Uber rose slightly in a friendly market environment. However, the Softbank will only observe this price movement from the sidelines. The reason for this is the fact that the Japanese conglomerate has already sold its entire block of shares, as announced on Monday.
The Japanese Softbank group is ailing. In the second quarter, the investment company, which also owns the well-known investment funds Sofbank Vision Fund 1 and 2, posted a loss of 3.2 trillion yen (about 23 billion euros). In order to raise fresh money, the company already parted with some of its positions in the run-up to the presentation of the figures.
According to its own statements, Softbank also made cuts at Uber and sold the remaining block of shares in full. The investment company had already invested in Uber in 2018 and sold a third of its shares in Uber last year. Now, Softbank sold the remaining stake between April and July at an average price of $41.47 per share. Originally, Softbank said it only paid $34.50 for the Uber shares and would have made a profit from the sale. How high this is in absolute terms cannot be quantified, however, since Softbank did not provide any information on the original stake or the sale proceeds.