cnbc.com/2022/08/08/softbank-sells-entire-stake-in-uber-as-vision-fund-losses-mount.html
SoftBank invested in Uber in 2018 and last year sold about a third of its stake. It has now offloaded whatever shares it still held. The move comes after SoftBank's Vision Fund reported a 2.93 trillion Japanese yen ($21.68 billion) loss for the June quarter.

SoftBank sold its remaining stake in U.S. ride-hailing giant Uber. The move comes after SoftBank's Vision Fund reported a 2.93 trillion Japanese yen ($21.68 billion) loss for the June quarter. SoftBank said that it sold its Uber holdings at some point between April and July.

SoftBank invested in Uber in 2018 and again in 2019 to become its biggest shareholder at one point. Last year, SoftBank sold about a third of its stake in Uber. The Japanese giant did not say how much the sale of Uber brought in for the company nor the size of the stake it offloaded.

Uber shares were more than 1% higher in pre-market trade. In total, between April and July, SoftBank said it had a realized gain of $5.6 billion on the total stakes in companies it sold. It has now offloaded whatever shares it still held.

Some of the company's holdings are down sharply this year. In the June quarter, the company raised $10.49 billion for the Vision Fund. The fund was set up to invest in technology, including e-commerce, in China. The Vision Fund was founded in 1998 by Chinese businessman Li Ka-shing.
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