Tag: Softbank

Japan Regulator: Apple Breached Antitrust Rules with iPhone

Japan Regulator: Apple Breached Antitrust Rules with iPhone

Japan’s Fair Trade Commission (FTC) says Apple’s Japan unit has breach antitrust laws by forcing NTT Docomo Inc., KDDI Corp., and SoftBank Group Corp. to offer subsidiaries and sell discounted iPhones. The FTC said that the move restricted competition and could have prevented the carriers from offering lower monthly charges. The Japan watchdog began looking into Apple’s sales practices in 2016, but did not punish Apple when the company agreed to revise its contracts with the carriers. It was said that to make up for the losses, Apple locked consumers into lucrative two- and four-year contracts.   Source: Reuters  

NHJ

Uber Admits to Informing Softbank of Breach Before Going Public

Last Thursday, Uber revealed that it had told Softbank of the breach prior to disclosing it with the public. The Japanese company is currently in talks with the ride-hailing firm in a deal that would amount to as much as $10 billion, effectively buying out existing shareholders. Uber said in its statement that it had a duty to inform Softbank, which was a potential investor, even though the information they had at the time was still incomplete. Uber added that they only went public after completing the forensic investigation which gave them a more complete understanding of the facts.    […]

Ride-Hailing Firm Grab Slated to Raise $2.5 Billion Via Didi Chuxing and Softbank

Ride-Hailing Firm Grab Slated to Raise $2.5 Billion Via Didi Chuxing and Softbank

In a report last Monday, ride-hailing company Grab announced its plan to raise $2.5 billion to reinforce its mobile payment platform and maintain dominance in Southeast Asian market over rival Uber. The investment program will be lead by the Softbank Group of Japan and Chinese ride-hailing app Didi Chuxing in what is considered the biggest single fundraising in Southeast Asia. According to Reuters, the company will be worth over $6 billion once the financing round is done. Grab’s anticipated growth comes in the wake of rival firm Uber’s growing concerns. In recent months, Uber has dealt with a criminal investigation […]