Uber CEO Dara Khosrowshahi. Photo credit: Uber
Softbank succeeds in tender offer for Uber shares, Huawei sees slower growth, and China wants to shut down online games with inappropriate content.
Ride-hailing
Uber finally sells stake to Softbank (US/Japan). Some of Uber’s biggest shareholders have agreed to sell 17.5 percent of the ride-hailing company to a consortium led by Japan’s Softbank. The deal values the ride-hailing firm at US$48 billion, a roughly 30 percent discount to Uber’s most recent valuation of US$68 billion. It will trigger changes in the way the board oversees the company ahead of its planned 2019 IPO. (Reuters)
Mobile
Huawei’s revenue growth slows (China). The company expects this year’s revenue to rise 15 percent to US$92 billion. That will make it the slowest in four years. Huawei is the world’s third-largest smartphone maker after Samsung and Apple. Its 2017 smartphone shipments totalled 153 million units, accounting for a global market share of over 10 percent. (Reuters)
Gaming
China wants stronger action on ‘inappropriate’ games (China). The government says it plans to shut down online games with illicit content, such as violence and obscenity. Overseas games with prohibited content will also be blocked. It’s specifically targeting games that have a large number of players and huge social influence. (Xinhua)
Editing by Eileen C. Ang
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