UPDATE 1-SoftBank, others in talks to invest $1 bln in Uber's self-driving unit - sources [Reuters]
Toyota Motor Corporation (TM)
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Source: Reuters
SoftBank, others in talks to invest $1 billion in Uber's self-driving unit: sources | Reuters 1 Min Read (Reuters) - A group of investors led by SoftBank Group Corp and Toyota Motor Corp are in talks to invest $1 billion or more into Uber Technologies Inc’s self-driving vehicle unit, which would value the unit at between $5 billion and $10 billion, according to two sources familiar with the talks. SoftBank Vision Fund is the largest shareholder in Uber with a 15 percent stake. The news of investment talks was first reported by Wall Street Journal, which said the talks could still fall apart but if there is a deal, it could surface next month. Uber and SoftBank declined to comment on the report. Toyota could not be immediately reached for a comment. The ride-hailing company, which last year lost about $3.3 billion, is betting on a transition to self-driving cars to eliminate the need to pay drivers. Uber is ramping up preparations for a stock market debut in which it is expected to see
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