Daily Management Review

Uber to sell part of its stake in China's Didi for $ 6.3B


Taxi service Uber Technologies Inc. wants to sell part of its stake in Chinese taxi service Didi Chuxing worth $ 6.3 billion, Bloomberg reported, citing sources familiar with the situation.

Uber is in talks to sell a stake in Didi with Japanese SoftBank Group, which is a major shareholder in both companies, sources say. "While various scenarios are being discussed, one option is to merge SoftBank with other investors to acquire a minority stake in Uber's 15 percent stake in Didi," the agency writes.

According to interlocutors of the agency, Uber begins to get rid of minority stakes in order to raise funds. At the same time, in the first quarter, the company has already reduced its stake in Didi to a package worth $ 6.3 billion from $ 8.2 billion. At that, the entire Didi company, as the agency writes, is estimated at $ 56 billion.

source: bloomberg.com