Uber seeks partial sale of US$ 6.3 billion slice at Didi, sources say. TheInitiative would be part of a process to get rid of minority stakes and raise resources, in an attempt to value their own shares.
According to Bloomberg:
The San Francisco-based ride-hailing pioneer is beginning to monetize stakes in other companies in an effort to boost its own share price, the people said, asking not to be identified because the discussions are private. Uber shares were down about 3% Thursday in New York to $36.41, well below the $45 a share at which it went public in May 2019.
Uber Chief Executive Officer Dara Khosrowshahi is in discussions about the sale with Didi and SoftBank Group Corp., the Japanese conglomerate that is a major shareholder in both companies, the people said. While various scenarios are under discussion, one option is for SoftBank to team up with other investors to acquire a minority of Uber’s 15% stake, one person said. Didi, which needs to approve any sale, is unlikely to buy shares itself, another person said.
A spokesman for Uber declined to comment. Didi also declined to comment.