SoftBank deal with Uber encounters delay —

Current investors are battling SoftBank’s investment terms, increasing the chance that the deal could collapse. Meanwhile, SoftBank has not disclosed what it will pay for the existing shares it will purchase, which accounts for most of the $10 billion investment.

The deal will trigger a series of governance changes upon closing, including the expansion of the Uber board to 17 seats, and the removal of super-voting shareholder rights. Earlier this summer Benchmark sued Uber’s former chief executive, Travis Kalanick, in an attempt to strip his control over three board seats, but that lawsuit would be dropped if the deal closes.

Source: SoftBank deal with Uber encounters delay


Author: Mitch Ratcliffe

Mitch Ratcliffe is a veteran entrepreneur, journalist and business model hacker. He operates this site, which is a collection of the blogs he's published over the years, as well as an archive of his professional publishing record. As always, this is a work in progress. Such is life.