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SoftBank, others in talks to invest $1 billion in Uber’s self-driving unit: WSJ


FILE PHOTO: Uber’s logo is displayed on a mobile phone, September 14, 2018. REUTERS/Hannah Mckay/File Photo

(Reuters) – A consortium that includes SoftBank Group Corp is in late-stage talks to invest $1 billion or more into Uber Technologies Inc’s self-driving vehicle unit, the Wall Street Journal reported on Wednesday, citing people familiar with the negotiations.

SoftBank’s Vision Fund and other investors, including at least one unnamed automaker, would take a minority stake in the self-driving vehicle unit at a valuation of between $5 billion and $10 billion, the Journal said.

The talks are fluid and could still fall apart but should there be a deal, it could surface next month, the report said.

Reporting by Rama Venkat in Bengaluru



via Reuters