Uber Is Close to Deal to Sell Stake to SoftBank

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Uber Is Close to Deal to Sell Stake to SoftBank
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The agreement follows an Oct. 3 Uber board meeting, in which directors voted to move forward with an investment from SoftBank. As part of the deal, Uber's board agreed to carry out a set of sweeping governance changes , including measures that reduce the influence that Travis Kalanick, Uber's former chief executive, has at the company. He still has a seat on the company's board. The SoftBank investment also sets up Uber to go public by 2019, another provision that was contingent on the deal.

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