SoftBank will not be making an investment in Uber, sources tell CNBC.
The Japanese conglomerate had been considering an investment in the ride-hailing company at a time when Uber’s management is in turmoil, but those talks are now dead, the sources said.
SoftBank already has positions in Ola, the big ride-hailing company in India, and Didi Chuxing, which once battled Uber for dominance in China until Didi bought Uber’s China business last year. Earlier this month SoftBank and Didi invested a combined $2 billion in Singapore-based Grab.
Last month Travis Kalanick, Uber’s founder, was forced to resign after mounting criticism of a corporate culture gripped by sexism and sexual harassment.
Source: Tech CNBC
SoftBank talks to invest in Uber are dead, sources tell CNBC