Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Tokyo  >  SoftBank Group Corp    9984   JP3436100006

Mes dernières consult.
Most popular
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets
OFFRE ETE Zonebourse : Jusqu'à 6 mois offerts sur tous les portefeuilles

SoftBank : Southeast Asia's Grab in talks to buy into Uber's regional business - source

share with twitter share with LinkedIn share with facebook
share via e-mail
03/08/2018 | 09:33pm CEST
A Grab motor driver is seen in a street in Jakarta

SINGAPORE (Reuters) - Southeast Asia's biggest ride-hailing firm, Grab, is in advanced negotiations to buy parts of Uber Technologies Inc's business in the region, said a source with knowledge of the talks, in what would be Uber's second retreat from an Asian market.

Ride-hailing firms have raised billions of dollars to help compete in Southeast Asia where they have been forced into losses partly due to hefty incentives to drivers and discounts to riders.

Grab has a dominant position in several markets in the region of about 640 million people, while Uber has also been expanding. The U.S. ride hailing firm announced a partnership with Singapore's top taxi operator ComfortDelgro in December.

"Grab is much bigger in Southeast Asia and they understand the local market much better," said Xiaofeng Wang, analyst at consultancy Forrester.

A multi-billion dollar funding of Uber in January by SoftBank Group, already one of Grab's main investors, had opened up the possibility of a consolidation with Grab.

"Uber has to be more focussed on those markets where it is doing quite well and have more advantages - like Europe and U.S.," Wang said.

Singapore-headquartered Grab's potential agreement with Uber would be similar to the one struck in China in 2016, when Didi Chuxing bought out Uber's China business and gave a stake in return, said the source, who declined to be identified as the talks are private.

As part of the Southeast Asia deal, Uber will get a stake in Grab, said the source, who declined to provide financial details.

Grab and Uber declined to comment on the Reuters story.

Though Uber expects to lose money in Southeast Asia, the company will continue to invest aggressively in the region, Uber CEO Dara Khosrowshahi said during a visit to India last month.

Grab operates private car, motorcycle, taxi and carpooling services across eight countries with more than 2.3 million drivers. It has expanded into digital payment services.

The company, which has an estimated valuation of about $6 billion (4.34 billion pounds), counts sovereign wealth fund China Investment Corp, venture capital firm GGV Capital, and Vertex Ventures, a subsidiary of Singapore state investor Temasek Holdings, among its investors.

Bloomberg reported on Thursday that Grab was close to finalising a deal to acquire Uber's business in certain markets in Southeast Asia and may sign a deal this week or next, citing people familiar with the matter.

(Reporting by Anshuman Daga and Aradhana Aravindan; Editing by Muralikumar Anantharaman)

By Anshuman Daga and Aradhana Aravindan

Stocks treated in this article : SoftBank Group Corp, Comfortdelgro Corporation Ltd
Stocks mentioned in the article
ChangeLast1st jan.
COMFORTDELGRO CORPORATION LTD 0.88% 2.3 End-of-day quote.15.58%
share with twitter share with LinkedIn share with facebook
share via e-mail
02:15pSOFTBANK : Appointment of Directors and Corporate Officers and Personnel Changes
09:28aSOFTBANK : The 38th Annual General Meeting of Shareholders
06/19T MOBILE US : Mobile-Sprin FCC merger applicaion becomes official
06/19Italy's doBank plans to take on $17 billion more in bad loans
06/18Google to invest $550 million in China e-commerce giant JD.com
06/16'GROSSLY OUT OF SCALE' : Proposed tree-like cell phone tower draws criticism in ..
06/15SOFTBANK : plans US$60-100 billion investment in solar in India
06/15Japan's SoftBank to invest up to $100 billion in Indian solar - NHK
06/14SOFTBANK : Mubadala to launch $400m European tech fund
06/13GENERAL MOTORS : U.S. automaker GM names Suryadevara CFO to succeed Stevens
More news
News from SeekingAlpha
06/19FT : SoftBank to add $5B to Vision Fund for employees 
06/16VENTURE CAPITAL DEALS OF THE WEEK : Space Catapult Edition 
06/15GM's master plan with Cruise 
06/15China Vows Quick Reaction To U.S. Tariffs; NAFTA Talks To Continue Through Su.. 
06/15WALL STREET BREAKFAST : Heading Toward A Trade War? 
Financials ( JPY)
Sales 2019 9 320 B
EBIT 2019 984 B
Net income 2019 653 B
Debt 2019 12 106 B
Yield 2019 0,55%
P/E ratio 2019 12,91
P/E ratio 2020 5,68
EV / Sales 2019 2,25x
EV / Sales 2020 2,11x
Capitalization 8 882 B
Duration : Period :
SoftBank Group Corp Technical Analysis Chart | 9984 | JP3436100006 | 4-Traders
Technical analysis trends SOFTBANK GROUP CORP
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 12 546  JPY
Spread / Average Target 55%
EPS Revisions
Masayoshi Son Chairman & President
Raul Marcelo Claure Chief Operating Officer & Director
Rajeev Misra Director & Head-Strategic Finance
Tadashi Yanai Independent Outside Director
Ken Miyauchi Representative Director & Vice President
Sector and Competitors
1st jan.Capitalization (M$)
AT&T-17.21%197 679
CHINA MOBILE LTD.-12.62%182 185
NTT DOCOMO INC4.09%96 458
KDDI CORP6.13%69 225
VODAFONE GROUP-21.23%65 124