In October, it was reported Uber Technologies Inc. and Softbank Group Corp. were nearing an agreement where Softbank would acquire to up to one-fifth of approximately a 15 percent stake in Uber.
According to Arianna Huffington, an Uber board member, told the Wall Street Journal during an interview that deal is “very likely” and close “within the next week.” She did not disclose the price then.
Now, Softbank CEO, Masayoshi Son, says that due pricing and agreement terms that his deal with Uber is “not decided yet.”
Son wants to pay less for the stake in Uber, but shareholders want more leading to Son being hesitant on the agreement. Son says that if the two cannot agree on mutual terms, it may lead to a different decision.
Son said it is possible his decision may shift to Uber’s competitor, Lyft, according to Bloomberg.
"Depending on the price and conditions, it is wholly possible we could shift our investment to the other main company Lyft. It is wholly possible," Son said, according to Bloomberg, "We won't know until the very end."
Although Son did acknowledge that Uber is a good company, but it had its fall through with its board of directors and the problems that arose from former CEO, Travis Kalanick.