BREAKING NEWS

BREAKING NEWS

SoftBank, others in talks to invest $1 billion in Uber's self-driving unit - WSJ

SoftBank, others in talks to invest $1 billion in Uber's self-driving unit - WSJ
FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato/File Photo -
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(Reuters) - A consortium that includes SoftBank Group Corp is in late-stage talks to invest $1 billion (757.4 million pounds) or more into Uber Technologies Inc's self-driving vehicle unit, the Wall Street Journal reported on Wednesday, citing people familiar with the negotiations.

SoftBank's Vision Fund and other investors, including at least one unnamed automaker, would take a minority stake in the self-driving vehicle unit at a valuation of between $5 billion and $10 billion, the Journal said.

The talks are fluid and could still fall apart but should there be a deal, it could surface next month, the report said.

(Reporting by Rama Venkat in Bengaluru)

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