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SoftBank talks to invest in Uber are dead, sources tell CNBC

By dailymail / Published on Monday, 31 Jul 2017 16:24 PM / No Comments


Masayoshi Son, chairman and chief executive officer of SoftBank Group

Chris Ratcliffe | Bloomberg | Getty Images

Masayoshi Son, chairman and chief executive officer of SoftBank Group

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.