Comment on SoftBank's giant investment in Uber will be finalized 'very likely in the next week'

SoftBank's giant investment in Uber will be finalized 'very likely in the next week'

WSJD LAGUNA BEACH, CA — SoftBank's multi-billion-dollar investment in Uber will be finalized "very likely in the next week," Uber board member Arianna Huffington said at the WSJD conference Monday. Uber's board voted earlier this month to approve the Japanese tech conglomerate's investment, which would add six more board seats, include a commitment to go public by 2019, and annul super-voting shares held by ousted ex-CEO Travis Kalanick and other longtime insiders. Through its $93 billion Vision Fund, SoftBank plans to acquire a 14% to 20% stake in the world's most valuable privately-held tech startup, Huffington said Monday.

 

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