Oct 4, 2017

Uber clears way for huge Softbank investment

Uber's directors approved a huge investment from Japan's Softbank late Tuesday, and a series of changes to its board. The moves signal fresh unity among the previously divided board as Uber seeks to recover from a series of scandals. "The board voted unanimously to move forward with the proposed investment by Softbank and with governance changes that would strengthen its independence and ensure equality among all shareholders," Uber said in a statement late Tuesday. Last month Softbank, a telecoms and technology giant, said it was considering an investment in Uber. "SoftBank's interest is an incredible vote of confidence in Uber's business and long-term potential, and we look forward to finalizing the investment in the coming weeks," Uber said.

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