# SoftBank sells 45 million shares in Uber – source
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2021-07-29
Category: BUSINESS
Category URL: https://financedigest.com/category/business
Meta Title: SoftBank to Sell 45 Million Uber Shares: Source
Meta Description: SoftBank is offloading 45 million Uber shares, sending the share price down 4.6%. Find out more on the recent move and its implications.
URL: https://financedigest.com/softbank-sells-45-million-shares-in-uber-sourcehtml

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(Corrects SoftBank’s ticker symbol in paragraph 1)

By Echo Wang

(Reuters) -SoftBank is selling about 45 million of its shares in Uber Technologies Inc, a source familiar with the matter told Reuters on Wednesday.

Uber [shares were down 4.6% at $44 in extended trading](https://www.financedigest.com/social-trading-is-the-new-way-that-gen-z-are-getting-their-share-of-the-pie.html "Social Trading is The New Way That Gen Z Are Getting Their Share of The Pie").

Any buyer will have a 30-day lockup period, the source said.

The person added that the Japanese investment giant’s motive was unrelated to the performance of Didi Global and Alibaba and SoftBank just thought it was a good time to cash out partially on its [Uber stake and take some profit](https://www.financedigest.com/uber-rival-bolt-seeks-to-turn-profitable-next-year-ipo-in-2025.html "Uber rival Bolt seeks to turn profitable next year, IPO in 2025").

CNBC had first [reported the sale](https://www.financedigest.com/sales-forecast-of-canned-motor-pumps-market-analysis-and-forecast-report-till-2030.html "Sales Forecast of Canned Motor Pumps Market , Analysis, and Forecast Report till 2030"), saying it was to cover for losses seen in its investment in Didi and Alibaba.

SoftBank’s [stake in Uber is now down to less than 100 million](https://www.financedigest.com/iag-agrees-to-buy-80-stake-in-air-europa-for-400-million-euros.html "IAG agrees to buy 80% stake in Air Europa for 400 million euros") shares, CNBC added, citing one source.

(Reporting by Rithika Krishna in Bengaluru; Editing by Maju Samuel)


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