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SoftBank offers to buy Uber shares at 30 percent discount

SAN FRANCISCO: Japan’s SoftBank Group is offering to purchase shares of Uber Technologies at a valuation of $48 billion, a 30 percent discount to its most recent valuation of $68.5 billion, a person familiar with the matter said on Monday. The investment, which was approved by the Uber board in October, would also trigger a string of governance changes at Uber that would limit some early shareholders’ voting power, expand the board from 11 to 17 directors and cut the influence of former Chief Executive Travis Kalanick.…