Global News

SoftBank: No final agreement on Uber

SoftBank: No final agreement on Uber

"We've entered into an agreement with a consortium led by SoftBank and Dragoneer on a potential investment", an Uber spokesperson wrote in an emailed statement Sunday to this news organization. The agreement struck on Sunday removed the final obstacle to allowing SoftBank to proceed with an offer to buy to stock. During that process, a price will be set for the existing Uber shares.

Uber is now valued at around $68.5bn (£52.4bn), but reports suggest that the stock offers would be based on a lower valuation, making the total value of the multibillion-dollar deal unclear.

Misra noted that Uber and its shareholders had agreed to commence with a tender process and engage with SoftBank after a "long and arduous process of several months".

SoftBank did not immediately respond to a request for comment.

"If conditions on share price and a minimum of shares are not satisfactory for the SoftBank Group side, there is a possibility the SoftBank Group may not make an investment", Softbank added. He still has a seat on the company's board.

According to the New York Times, the terms of the agreement include suspending and ultimately scrapping the lawsuit Benchmark filed against embattled former CEO Travis Kalanick.

Kevin Hart, Big Sean Voice Support for Meek Mill Rally
He not only has a bright future but also a unique opportunity to inspire young men at a time when others are tearing them down. Fellow proud Philadelphians , The Roots star Black Thought and funnyman Kevin Hart , also commented on the rally via Twitter .

A deal would be positive for Uber, which is seeking to turn the page after recent repeated scandals, among them workplace sexual harassment allegations.

If investors are reluctant to sell and SoftBank cannot hit its threshold of 14 per cent ownership of Uber, SoftBank can walk away from the deal.

On the successful completion of the SoftBank investment, Benchmark would drop the lawsuit entirely.

Kohli had joined Uber India in September a year ago and was responsible for the company's relations with policymakers, regulators, government officials, industry bodies and others. In addition to his own seat, Kalanick controls two more, which are occupied by Ursula Burns, the former Xerox Corp CEO, and former Merrill Lynch & CO Inc CEO John Thain. It operates in about 30 Indian cities and competes with Ola, a ride hailing service backed by Japan's Softbank.

The deal gives early investors such as Benchmark, whose Uber stake is worth almost $9 billion, the opportunity to cash out a very lucrative investment.


  • Cam Newton throws for 4 touchdowns in Panthers rout of the Dolphins

    Cam Newton throws for 4 touchdowns in Panthers rout of the Dolphins

    Jay Cutler had 213 yards passing with two touchdowns and one interception for the Dolphins (4-5), who have lost three straight. Kenyan Drake provided the big play for the Dolphins, breaking free for a 66-yard touchdown run in the third quarter.
    Sessions Raises Prospect of Special Counsel on GOP Concerns

    Sessions Raises Prospect of Special Counsel on GOP Concerns

    Clinton and other CFIUS officials either knew or should have been told of the investigation at the time they approved the deal. Trump, in particular, has highlighted allegations of Democratic wrongdoing to distract from Mueller's probe.
    Man 'punches shark in face' during NSW attack

    Man 'punches shark in face' during NSW attack

    Avoca and North Avoca beaches remained closed on Tuesday as authorities closely monitored the water for any sign of the shark. Surf Life Saving NSW said the "minor" shark attack happened at the lagoon at Avoca Beach.
  • England manager Gareth Southgate expects Brazil to provider sterner test than Germany

    England manager Gareth Southgate expects Brazil to provider sterner test than Germany

    We watch the players very closely with their clubs and have succession plans to who is second, third and fourth choice". Most of the squad are young anyway so know each other from younger age groups.
    Korean soldier defects to South

    Korean soldier defects to South

    Command and by North Korea, with South Korean and North Korean border guards facing each other only meters (feet) apart. The 1984 exchange of gunfire happened after North Korean soldiers crossed the border and fired, according to the U.N.
    CJI is the master of the roster: SC

    CJI is the master of the roster: SC

    Referring to the petition filed by Jaiswal, the bench said, "It was a deliberate attempt to scandalise the judiciary". Attorney General KK Venugopal observed that the court was facing a crisis that was brought about by the petitions.
  • PS4 online multiplayer drops PlayStation Plus requirement for five days

    PS4 online multiplayer drops PlayStation Plus requirement for five days

    And for those curious, it looks like discounts for the PlayStation 4 Pro will be rare if they exist at all. If you need to stock up on DualShock 4 wireless controllers, those will start at $40 (about $10 off MSRP).
    Police identify 4 killed in Detroit-area crash

    Police identify 4 killed in Detroit-area crash

    He was buckled into a auto seat and suffered only minor injuries. "Every couple weeks there are sirens going down there". John Wade, who helped call 911, was also driving down I-94 and witnessed the moments before the crash.
    Donald Trump offers to mediate in protracted South China Sea feud

    Donald Trump offers to mediate in protracted South China Sea feud

    The Chinese leader was following closely on the heels of US President Donald Trump who arrived in the Vietnamese capital Saturday. Chinese Premier Li Keqiang sealed the accord with the ASEAN leaders in Manila, according to China's state-run Xinhua news agency.
  • More Than 20 Afghan Police Reported Killed In Taliban Attacks

    More Than 20 Afghan Police Reported Killed In Taliban Attacks

    In the Western Afghan province of Farah when Taliban jihadist attack on a checkpoint killed eight policemen. The country's southern provinces have seen a rise in violence against Afghan forces recently.
    Google Home trick lets you 'broadcast' messages from your phone

    Google Home trick lets you 'broadcast' messages from your phone

    All the Google Home devices must be connected to the same Wi-Fi network and be running firmware version 1.26.93937 or higher. You can even do this from outside the house; you don't need to be at home to make your voice heard throughout the house.
    Jack Swagger Signs With Bellator MMA In Heavyweight Division

    Jack Swagger Signs With Bellator MMA In Heavyweight Division

    Before spending a decade with WWE , Hager was an All-American wrestler at the University of Oklahoma. Swagger has been working on the independent scene since departing WWE earlier this year.