Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Tokyo  >  SoftBank Group Corp    9984   JP3436100006

SOFTBANK GROUP CORP (9984)
My previous session
Most popular
  Report  
SummaryChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsTweets
OFFRE

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
0
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 0.86% 2.35 End-of-day quote.18.09%
SOFTBANK GROUP CORP -2.15% 10710 End-of-day quote.16.16%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on SOFTBANK GROUP CORP
09/18SOFTBANK : India's Ola set for New Zealand launch after U.S., Australia
AQ
09/18SOFTBANK : Saudi Sovereign Fund Raises $11 Billion Loan
DJ
09/17Saudi's PIF invests more than $1 billion in electric carmaker Lucid Motors
RE
09/17SPRINT : iPhone XS, iPhone XS Max, Apple Watch Series 4 Arrive at Sprint on Sept..
AQ
09/17Walgreens and Sprint Announce Plans to Open Additional Sprint Express Locatio..
AQ
09/14Euronet, Sprint team up to offer Ria remittances at Boost Mobile dealers
AQ
09/14T-Mobile Launches World's Largest Virtual Packet Core with Cisco in Preparati..
AQ
09/13Tencent-backed Meituan raises $4.2 billion in IPO priced near range top - sou..
RE
09/12SOFTBANK : Synchronoss and TBCASoft partner on a Proof of Concept for an RCS and..
PU
09/0748,000 SF Smith's Grocery Shadow-Anchored Shopping Center Trades Hands in San..
AQ
More news
News from SeekingAlpha
09/15Pfizer Invests In Mini Brains, Kleiner Perkins Splits 
09/14Apple's Innovation - Cramer's Mad Money (9/13/18) 
09/14Carolinas Brace For Hurricane Florence (Wall Street Breakfast Podcast) 
09/14WALL STREET BREAKFAST : Carolinas Brace For Hurricane Florence 
09/14Next frontier in 5G connectivity 
Financials (JPY)
Sales 2019 9 378 B
EBIT 2019 1 015 B
Net income 2019 777 B
Debt 2019 12 687 B
Yield 2019 0,41%
P/E ratio 2019 14,99
P/E ratio 2020 7,42
EV / Sales 2019 2,61x
EV / Sales 2020 2,56x
Capitalization 11 788 B
Chart SOFTBANK GROUP CORP
Duration : Period :
SoftBank Group Corp Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SOFTBANK GROUP CORP
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 13
Average target price 13 541  JPY
Spread / Average Target 26%
EPS Revisions
Managers
NameTitle
Masayoshi Son Chairman, President & Chief Executive Officer
Raul Marcelo Claure Chief Operating Officer & Director
Norikazu Oba Manager-Finance & Planning
Tadashi Yanai Independent Outside Director
Ken Miyauchi Representative Director & Vice President
Sector and Competitors
1st jan.Capitalization (M$)
SOFTBANK GROUP CORP16.16%107 541
AT&T-13.27%244 148
CHINA MOBILE LTD.-3.66%198 580
NTT DOCOMO INC12.07%99 926
KDDI CORP9.37%68 827
VODAFONE GROUP-28.12%58 998