Uber approves SoftBank's 10 billion investment offer

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Uber approves SoftBank's 10 billion investment offer
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Under the agreement, a consortium of investors led by SoftBank will buy at least 14 percent of Uber. The investment would dilute the stake of Benchmark Capital, one of Uber's key investors until now and one that is locked in a bitter court battle with it over allegations of mistrust involving former CEO Travis Kalanick. However, once the SoftBank deal goes through, Benchmark is likely to drop the lawsuit or put it on hold. Uber's board has already approved a slew of governance reforms that will significantly reduce Kalanick's role at the company. ALSO READ: SoftBank keen to invest in either Uber or Lyft before entering America: Reports

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