Softbank CEO Masayoshi Son plans stake in Uber or Lyft

SoftBank Q1 operating profit jumps 50.1% after inclusion of Vision Fund

SoftBank IS interested in investing in Uber, or its US rival Lyft, says chief Masayoshi Son

His comments follow reports that SoftBank is seeking a multi-billion dollar stake in Uber.

Chief Executive Masayoshi Son on Monday expressed eagerness to invest in Uber Technologies Inc. or Lyft gain access to the USA ride-hailing market after multiple similar investments in Asia.

SoftBank also has a foothold in the United States market through its wireless unit Sprint Corp, which last week reported a quarterly profit for the first time in three years as a results of cost cutting efforts.

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I think we are working, but we were working before that happened and try to find the solutions in different positions on the pitch".

"Whether we decide to partner with Uber or Lyft, I don't know what will be the end result".

Japan's SoftBank Group has reported a 50.1% increase in its first-quarter operating profit, after the company included Vision Fund as a new reportable segment and booked a valuation gain. It was absent from Lyft's latest funding round that raised $600 million in April.

This comes months after SoftBank Group announced that it had invested $1.4 billion in the parent of Paytm, giving the digital payments start-up a boost as it looks to expand its user base and maintain its market lead in Asia's third-largest economy.

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Longer term "if all goes well Vision Fund should contribute several hundred billion yen in annual revenue", Son said. SoftBank has not released a forecast for the current business year ending March, saying there are too many uncertain factors.

Sprint has held exclusive talks with T-Mobile USA, which is controlled by Deutsche Telekom, as well as with Comcast and Charter Communications, the top two cable operators in the US, about possible deals such as offering wireless services on their networks.

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