Masayoshi Son is looking to strengthen his grip on the global ride-hailing market, with SoftBank entering talks to become the dominant shareholder in Ola, Uber’s local rival in India. The Japanese conglomerate that Mr Son founded is in negotiations to buy some or all of the 13-14 per cent stake held by US hedge fund Tiger Global in ANI Technologies, Ola’s parent company, according to three people close to the talks. SoftBank already holds about 25 per cent of ANI’s shares so this would make it by far the largest backer of the Indian company. A deal would further concentrate SoftBank’s power in the car-booking market worldwide. The company is negotiating a $10bn investment in Uber and also has invested in Didi Chuxing in China as well as Grab, which operates across Southeast Asia. “Ola is a strategically important investment in our global portfolio,” SoftBank said. “We are confident that our support will help them grow and become one of India’s most valuable companies.”
Full Content: Financial Times
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
FTC Urged to Enforce Rarely Used Antitrust Law Against Retail Giants
Mar 28, 2024 by
CPI
UK’s Fingleton Bolsters Team with New Additions
Mar 28, 2024 by
CPI
Britain’s Competition Regulator Clears Aviva’s Acquisition of AIG Life UK
Mar 28, 2024 by
CPI
White House Implements New AI Safeguards to Protect Rights and Safety
Mar 28, 2024 by
CPI
Denver Court Sets August Date for Kroger-Albertsons Merger Showdown
Mar 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Real Estate & Antitrust
Mar 27, 2024 by
CPI
Systematic National Evidence of Steering by Real Estate Agents
Mar 27, 2024 by
CPI
Compliance Now! Actionable Antitrust Advice for the Residential Real Estate Industry
Mar 27, 2024 by
CPI
Real Estate Commissions: Some Insights from the Economics of Multi-Sided Platforms
Mar 27, 2024 by
CPI
New Ideas for Promoting Real Estate Brokerage Price Competition
Mar 27, 2024 by
CPI