SoftBank CEO Son admits he's considering investing in either Uber or Lyft

SoftBank CEO Son admits he's considering investing in either Uber or Lyft

SoftBank CEO Son admits he's considering investing in either Uber or Lyft

The billionaire is in the process creating the $100-billion Vision Fund, which was included in the results for the first time, to speed up investments in technology startups overseas.

It's unusual for an investor to publicly mull a major investment like this, and it's possible his comments might be a bargaining tactic to pressure Uber into making a deal. Lyft closed $600 million in fresh funding at a $7.5 billion valuation in April, whereas Uber has been valued at over $60 billion.

Japan's SoftBank is set on making a bigger impact in the U.S., seeking stakes in the leading auto sharing services and pushing for consolidation in telecoms and cable.

SoftBank Group CEO Masayoshi Son has said he is interested in investing in ride-hailing firms Uber and Lyft but has not made a decision. "We have not decided which way".

Son also said that he's close to inking a deal involving subsidiary Sprint Corp (S) that would trigger consolidation of the US telecom industry. But the USA is a very big market. So we are definitely very much interested in the USA market.

SoftBank and Sprint are brokering "multiple possibilities", he said.

"When the world goes to 5G, Sprint's spectrum will be extremely valuable, " Mr. Son said.

At a Tokyo news conference covering quarterly results, he said car-sharing services would become even more important as the sharing economy and autonomous driving - another industry SoftBank is backing - take off. At the company's annual event for customers and suppliers last month, Son painted a picture of the future where satellite networks cover every inch of the Earth and a trillion devices connected to the internet disgorge data into the cloud to be analysed by artificial intelligence.

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