SoftBank to buy 15% Uber stake in $ 1 billion

Japanese conglomerate SoftBank will invest around $ 1 billion in Uber and will become owner of 15 percent stake of the company. The deal will take place early next year.

Uber was surrounded by controveries like data leak and data hack in the year 2017 and the company is looking for fresh start in the comming year.

Two people close to the developments said SoftBank Group Capital Ltd, a wholly owned subsidiary of SoftBank Group, will hold 15% share in Uber.

The tender offer will also see the remaining members of the consortium picking up about three per cent stake, another official said