Uber Unlucky Again: New Ban and 21 Billion “Loss”

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This week is quite unfortunate for Uber as it’s undergoing a number of serious changes in the company management and is considering a deal offered by SoftBank.

See what Nexter know about it.

Uber to be banned in Israel

uber-israel-news-pic

Source: netdna-ssl.com

According to Times of Israel, the Tel Aviv court has banned the UberDay and UberNight services in Israel. Uber will be banned in Israel from 10 a.m. on Tuesday.

The lawsuit against Uber was filed by the Israeli Ministry of Transport Road Safety in May 2017. The department thinks the services of Uber are provided by drivers without a license and insurance.

Moreover, in Israel, Uber competes with the local taxi service Gett Taxi, who initiated the suit against the company. Gett Taxi was also supported by the Tel Aviv taxi union.

For insured and licensed drivers, Uber service remains legal and will continue to work in Israel.

SoftBank to pay for Uber shares 30% less

uber-softbank-news-pic

Source: vccircle.com

According to TechCrunch, the Japanese company SoftBank wants to buy a significant Uber share, but with a discount of about 30% compared with the current valuation ($69 billion) of the company.

The investors are going to send Uber an official offer on Tuesday. The company will have 20 business days for its consideration.

In case Uber accepts this deal, it will experience serious changes in the management of the company: SoftBank intends to introduce 6 new directors to the company’s board of directors.

Consequently, the power of the founder of Uber Travis Kalanick and the voting rights of a number of shareholders will be limited.

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Uber Unlucky Again: new ban and 21 billion “loss”
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Uber Unlucky Again: new ban and 21 billion “loss”
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This week is quite unfortunate for Uber as it’s undergoing a number of serious changes in the company management and is considering a deal offered by SoftBank.
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