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| Softbank acquires 20% of Ober and reduces its value to $ 48 billion |
Japan's Softbank Group has acquired a 20% stake in Ober, a company that reduces the company's market capitalization from $ 70 to $ 48 billion due to problems that the company suffered during the year.
Perhaps the most important news here is not only the company's market capitalization, but the entry of a major competitor to former CEO Travis Kalanick, who still holds a seat on the board and holds 16% of the vote.
Under the new acquisition, the board has expanded to include 17 seats instead of 11 and Softbank will have two seats, reducing the influence of the former CEO and controlling the company's decisions.
Softbank paid $ 33 per share and bought shares held by early investors, reflecting the company's new real value, and buying $ 1 billion worth of shares from the company at its previous valuation of $ 70 billion.
With this, Softbank has incorporated one of the world's largest technology companies into its portfolio of large investments such as Sprint Communications, ARM Processors and Boston Dynamics Robotics.
Softbank has holdings in other competitive carriers such as Didi Chuxing in China, Grab in Southeast Asia and Ola in India.
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