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Uber board strikes agreement to pave way for SoftBank investment

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Published Mon, Nov 13, 2017 · 09:50 PM

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    San Francisco

    UBER Technologies Inc's warring board members have struck a peace deal that allows a multibillion-dollar investment by SoftBank Group Corp to proceed, and which would resolve a legal battle between former chief executive Travis Kalanick and a prominent shareholder.

    Venture capital firm Benchmark, an early investor with a board seat in the ride-services company, and Mr Kalanick have reached an agreement over the terms of the SoftBank investment, which could be worth up to US$10 billion, according to two people familiar with the matter.

    SoftBank

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