Mubasher: Japan's Softbank has offered a bid to buy shares in Uber for a total value of $48 billion (GBP 36 billion).
In case the deal is sealed, Softbank would acquire the stock for nearly 30% less than Uber's most recent valuation of $69 billion.
The Japanese corporation is leading a consortium of firms that intends to buy at least 14% of Uber’s shares.
While the size of this stake has not been yet disclosed, earlier this month, Uber said the money would finance its expansion and investments in technology.
If this stake is acquired, this could lead to a share listing by 2019 and transform the company's corporate structure.
Included in this deal, the size of Uber's board would increase from 11 to 17 directors, with Softbank's investor group taking up two of the new board seats, Reuters recently reported.
It is noteworthy that Uber is also being sued in two U.S. states over a massive data breach in 2016 that affected the data of 57 million customers and drivers.
Uber said last week that it paid $100,000 to hackers to delete the data.
