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Softbank to invest in Uber


Softbank to invest in Uber

London/Tokyo/Brasilia/New Delhi, Nov 14 (ANI): Japanese tech giant, Softbank, says it's mulling a multibillion dollar deal to invest in ridesharing app Uber. Japanese telecoms giant Softbank says it's weighing up a billion dollar investment in the company on top of a move to buy 17 percent of its shares.

Uber is open to the move after terms were used to make peace between two key board members, co-founder and former CEO Travis Kalanick and a top shareholder that pushed to get him removed earlier this year, Benchmark Capital. A successful deal would offer something of a reset for new CEO Dara Khosrowshahi forcing Benchmark to drop a lawsuit against Kalanick while the powerful ex-boss would have to loosen his grip on the board room.

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