SoftBank sold 45 million shares in Uber Technologies to cover its losses on its investment in Didi Global and Alibaba, a source familiar with the matter said. Uber shares were down 4.6 per cent at $44 in extended trading. Any buyer will have a 30-day lockup period. SoftBank has lost about $4 billion on its investment in Didi Global. It has also experienced a decrease in the valuation of Alibaba.

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The news comes after Uber stocks increased a little bit after the company’s trucking unit announced shipping software company Transplace from TPG Capital for around $2.25 billion. SoftBank invested in 2018 in Uber. In 2019, SoftBank Vision Fund added $333 million to Uber. Recently, Uber introduced SoftBank as “a large stockholder.”