Tech
Japanese bank seeks multi-billion dollar stake in Uber
SoftBank Group Corp is pushing to take a multi-billion dollar stake in Uber Technologies Inc., the Wall Street Journal reveals, citing people familiar with the matter.
According to the report, the sources said SoftBank’s talks with Uber are preliminary and any deal would likely be put on ice until the ride-sharing firm hires a new chief executive, which is not expected for weeks.
Read also: Uber mulls giving shares to drivers to make them stay
The Japanese bank has already invested in three ride-sharing companies in Asia — Didi Chuxing Technology Co in China, Ola in India and Grab Taxi Holdings Pte in Singapore, according to the report.
A month ago, embattled Uber CEO Travis Kalanick stepped down after being put under heavy pressure from a large group of the company’s shareholders.
Uber has been riddled with a reputation for scandals that appeared to be accelerating — sexual assaults by drivers, “greyballing” regulators, disputes over driver pay and a corporate culture teeming with charges of harassment.
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