- SoftBank (OTCPK:SFTBY, OTCPK:SFTBF) plans to create a $30B asset management arm partly to house its $93B tech-focused Vision Fund, according to Bloomberg sources.
- SoftBank will continue searching for investments in the financial sector with recent buys including the $3.3B acquisition of asset manager Fortress Investment Group.
- SoftBank also wants to invest in Uber (Private:UBER) and has now agreed to block any attempts by ex-CEO Travis Kalanick, and current board member, to move back toward the top of the company.
- Uber investor and board member Benchmark wanted the guarantee from SoftBank before agreeing to any type of investment. Benchmark has sued Kalanick for his expansion of the board last year that left two open seats that SoftBank reportedly now wants.
- SoftBank and partner investment firms General Atlantic and Dragoneer Investment Group want to invest a minimum $1B in Uber while buying up to $9B in shares from current investors.
- Previously: Benchmark complicates SoftBank's Uber investment; Uber employee cases in court (Sept. 21)
- Now read: Wall Street Breakfast: Tensions Weigh On Catalonia Referendum
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