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

(Reuters) – A consortium that features SoftBank Group Corp is in late-stage talks to take a position $1 billion...

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SoftBank, others in talks to invest


(Reuters) – A consortium that features SoftBank Group Corp is in late-stage talks to take a position $1 billion or extra into Uber Technologies Inc’s self-driving car unit, the Wall Street Journal reported on Wednesday, citing folks aware of the negotiations.

SoftBank’s Vision Fund and different traders, together with at the least one unnamed automaker, would take a minority stake within the self-driving car unit at a valuation of between $5 billion and $10 billion, the Journal stated.

The talks are fluid and will nonetheless disintegrate however ought to there be a deal, it might floor subsequent month, the report stated.

(Reporting by Rama Venkat in Bengaluru)

This story has not been edited by Firstpost employees and is generated by auto-feed.

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