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SoftBank is poised to buy a chunk of Uber. Here's what that means

SoftBank is poised to buy a chunk of Uber. Here's what that means

Uber said Sunday that it has struck a deal clearing the path for an investor group led in part by Japanese conglomerate SoftBank to buy a stake in the ride-hailing giant.

The deal could be worth as much as $10 billion and would include changes to Uber’s board operations, according to a person with knowledge of the deal who was not authorized to discuss it publicly.

“We believe this agreement is a strong vote of confidence in Uber’s long-term potential,” an Uber spokesman said in a statement. “Upon closing, it will help fuel our investments in technology and our continued expansion at home and abroad, while strengthening our corporate governance.”

Rajeev Misra, chief...

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