Fox Business Network’s (FBN) Senior Correspondent Charlie Gasparino reports Goldman Sachs Group Inc (NYSE:GS) charged Uber a marginal fee for recent financing in an effort to be the lead underwriter for a potential Uber IPO. Gasparino further reports Goldman is “working nearly for free” on the Uber deal because, “it is preparing to be lead underwriter on their upcoming IPO.”
On Goldman Sach’s financing for Uber:
“Goldman charged almost nothing to do this financing, raising money from its private clients for Uber. Why is it doing that — it’s in preparation for an IPO. What we understand from bankers from every firm are now pitching Uber for an IPO…This is an interesting deal. This means that Uber is clearly, at least according to bankers, going public at some point soon. Goldman Sachs Group Inc (NYSE:GS) clearly doesn’t work for free because it likes to work for free. It is working nearly for free on this deal because it is preparing to be lead underwriter on their upcoming IPO which a lot of people think will be over the next year.”
