SoftBank discussing $6B Didi Chuxing investment - Mobile World Live

SoftBank discussing $6B Didi Chuxing investment

28 MAR 2017

SoftBank is in talks about a potential $6 billion investment in Chinese ride sharing company Didi Chuxing, Bloomberg reported.

Sources told the business publication Didi was mulling the offer, though it was unclear if the investment would come directly from SoftBank or made as part of the $100 billion Vision Fund led by the company.

Apple and WeChat owner Tencent are among the more than 100 investors which have already backed Didi following several rounds of funding. Should the SoftBank deal go ahead, Apple and Tencent are reportedly considering increasing their investment on a pro-rata basis to avoid diluting their shares of the firm.

Didi is the largest ride-sharing company in China and merged with Uber’s Chinese division in July 2016. The company has since looked beyond its home market and opened a research centre in the US to investigate the use of assisted and driverless cars.

Investment vehicle
SoftBank has been active on the acquisition and investment trail in the last year, with deals including a £24 billion ($30.1 billion) acquisition of ARM completed in September 2016 and a $3.3 billion bid for investment company Fortress accepted in February.

The company is also in the process of trying to attract further investment into its $100 billion Vision Fund, already backed by Saudi Arabia’s Public Investment Fund. The fund aims to invest in a range of technology companies from start-ups to established players.


Chris Donkin

Chris joined the Mobile World Live team in November 2016 having previously worked at a number of UK media outlets including Trinity Mirror, The Press Association and UK telecoms publication Mobile News. After spending 10 years in journalism, he moved...

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