A SoftBank-led consortium has reached an agreement to buy more than 17 per cent of Uber for about $9bn, after shareholders elected on Thursday to sell their shares to the Japanese conglomerate at a discounted price.
The shareholders’ decision marks the clearing of the final hurdle in a complex deal whose success is critical to Uber’s efforts to turn over a new leaf.
The SoftBank deal also represents a major victory for Uber’s new chief executive, Dara Khosrowshahi, and will trigger sweeping governance changes that cement his control over the troubled company.
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