"We've entered into an agreement with the consortium led by SoftBank and Dragoneer [of San Francisco] on a potential investment, a statement from Uber said. Upon closing, it will help fuel our investments in technology and our continued expansion at home and overseas, while strengthening our corporate governance".
Taxi-hailing company Uber has said it's struck a deal that may eventually lead to a massive investment in the company by a consortium led by Japanese conglomerate SoftBank and Dragoneer of San Francisco.
The Financial Times added that Softbank could walk away if other investors declined to sell the $9bn worth of shares, amounting to a 14 per cent stake in Uber, that the Japanese firm is seeking.
But over the weekend London Mayor Sadiq Khan recognised that Uber had apologised for mistakes and appeared ready to change after Transport for London refused to renew its licence in September, saying that it was not a fit and proper private vehicle hire operator.
Saudi Arabia reportedly holding ex-Lebanese prime minister against his will
Ibrahim al-Masri, a 37-year-old Hariri supporter, said the Lebanese didn't know if it was Hariri's choice to stay in Saudi Arabia. In the week of Mr Hariri's resignation, dozens of officials and royals were rounded up in the kingdom on corruption charges.
The purchase of existing shares will be conducted through a tender-offer process, which could take at least a month to finalize.
The deal may also help to get former Uber chief exec Travis Kalanick out of a hole.
SoftBank did not immediately respond to a request for comment.
The two parties reportedly reached an agreement on control of board seats, which included Benchmark putting its lawsuit on hold-while Kalanick will allow directors to vote on his future appointments to the three seats he oversees. Son has spearheaded the new round of investment in Uber.
Benzema: Ronaldo is more selfish than me
Both Cristiano Ronaldo and Karim Benzema have been ineffective for Real Madrid in the current campaign so far. He likes to play with one touch of the ball. "He could have come to Real, and that would have been good".
In October, Uber's board made sweeping reforms within the company proposed by new Uber CEO Khosrowshahi and Goldman Sachs, which set the SoftBank deal and the 2019 IPO plans in motion.
Benchmark agreed to drop the lawsuit in return for Kalanick's board power being diluted but its co-operation depends on the Softbank investment going through.
New cars come equipped with safety systems.
Massa honored with son on radio, special podium after P7 in Brazil
A stark contrast to retiring in wet conditions 12 months ago in what turned out to be a dress rehearsal for his actual retirement. I'm so proud, I have so much emotion for everything that I have passed through [in F1] after such a long time.