Truce with Ola not a condition for SoftBank to invest in Uber

Uber will raise just $1 billion to $1.5 billion at its current valuation of $70 billion

As SoftBank considers investing in US ride-hailing giant Uber, a truce between Uber India and rival Ola isn’t an immediate condition for funding from the Japanese player, according to a Bloomberg report. 

Uber is in a fierce battle with Ola, and both companies are losing money to grab market share from each other. Uber has lost in China and Russia to local rivals Didi Chuxing and Yandex, respectively, settling for a minority stake in merged entities.

Since then, SoftBank has invested $5 billion in Didi and over $2 billion along with Didi in Grab, Uber's rival in Southeast Asia.

Masayoshi Son, chairman and