76138
SoftBank in Uber Deal
SoftBank in Uber Deal

SoftBank in Uber Deal

SoftBank in Uber Deal

Scandal hit ride-sharing company Uber late Sunday announced a deal to sell a stake to Japan’s SoftBank, as the firm looks to turn a new page ahead of its planned IPO by 2019, AFP reported. The move was unveiled shortly after reports emerged that its former CEO Travis Kalanick and an influential investor had buried the hatchet in a long feud that paved the way for the acquisition. “We’ve entered into an agreement with a consortium led by SoftBank and Dragoneer on a potential investment,” a company statement said in a statement Sunday evening. “We believe this agreement is a strong vote of confidence in Uber’s long-term potential,” it added. “Upon closing, it will help fuel our investments in technology and our continued expansion at home and abroad, while strengthening our corporate governance.” But SoftBank refused to confirm the news when contacted by AFP and said it was not planning to issue any statement on Sunday. A deal would be positive for Uber, which is looking ahead to the future in the wake of recent repeated scandals, among them workplace sexual harassment allegations.

Short URL : https://goo.gl/Gg9uZ9
  1. https://goo.gl/T7bxjN
  • https://goo.gl/n6Fxct
  • https://goo.gl/8dwd9H
  • https://goo.gl/mYsUr9
  • https://goo.gl/sNzGg8

You can also read ...

Cyber threats are ever-evolving.
The White House released a report that found that the economic...
Global Investors Target Zimbabwe Energy Sector
Zimbabwe has become a magnet for billionaire global firms such...
BSP said the planned RRR cuts are part of the bank’s financial market reforms.
The Bangko Sentral ng Pilipinas said it was reducing banks’...
FAO regional representative Julio Berdegue (R), and the deputy regional representative Eve Crowley.
Identifying territories where rural poverty is most entrenched...
Lagarde Backs Creation of European Monetary Fund
International Monetary Fund chief Christine Lagarde has no...
The country’s GDP grew by 3.2% in 2017 but will  edge down in the coming years.
A report by the International Monetary Fund showed Sunday that...
Asean Labor Flows Hit a Wall
Tighter restrictions on foreign labor in Malaysia and Thailand...
Baby-boomers will start turning 75 or older in 2022, which is expected to trigger a surge in health care and nursing care costs.
Amid stalling inflation and ballooning government spending,...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus