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Vanguard, T Rowe Price slash valuations for Uber holdings

USA-New-York-America-NYC-Taxi-700x450.jpgVanguard and T Rowe Price have slashed valuations for their holdings in Uber by 15 per cent and 12 per cent respectively as the company faces corporate governance turmoil and searches for a new chief executive.

However, rival Blackrock has increased its valuation in the unquoted ride-share company by 10 per cent, the Financial Times reports.

Fidelity International, which was among a group of investors calling for former chief executive Travis Kalanick’s resignation, has held its valuation steady at last year’s levels.

The fund manager valuations for the private company provide an indication of the company’s valuation, which only formally takes place every time it does a new capital raise.

Kalanick resigned in June amid a series of scandals, including complaints of sexual harassment.

Uber’s most recent fundraising just over a year ago valued it at $62.5bn.

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