SoftBank loses $16b in market value as Uber’s shares sink

FILE PHOTO: SoftBank Group Corp Chairman and CEO Masayoshi Son attends a news conference in Tokyo, Japan, February 8, 2017. REUTERS/Toru Hanai/File Photo

In the months leading up to Uber Technologies Inc.’s market debut, Masayoshi Son made a habit of pointing out that SoftBank Group Corp. is the world’s largest investor in ride-hailing companies. Suddenly, it doesn’t seem like such an enviable position.

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