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Business

SoftBank to maintain role as major shareholder of China's Didi

Japan tech giant's $5bn investment in ride company aids shift away from telecom

CEO Masayoshi Son also intends for SoftBank to invest in a U.S. startup selling blood tests that may track cancer.

TOKYO -- SoftBank Group is keeping its status as a large shareholder of China's Didi Chuxing as it buys up the bulk of new equity issued by the ride-hailing company.

The Japanese tech giant's contribution will make up 90% of the Chinese company's latest funding round of $5.5 billion. The exact increase in SoftBank's stake remains unknown as Didi does not disclose its shareholder makeup, though it includes big-name companies such as Tencent Holdings, Alibaba Group Holding and Apple.

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