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00:00:02
>> A possible step towards a massive cash injection for Uber on Tuesday. Japanese telecom's giant SoftBank says it's weighing up a billion dollar investment in the company, on top of a move to buy 17% of its shares. Sources tell Reuters a deal could ultimately be wort up to $10 billion.
00:00:19
Uber just approved the deal this week, but SoftBank execs in Tokyo made it clear on Tuesday that so far, nothing is set in stone. And if the share price isn't right, there won't be a deal. After a rocky few years of losses and criminal probes at Uber, missing out on SoftBank's cash would be a hard blow, as Reuter's Sam Nussey reports from Tokyo.
00:00:38
>> Uber's been going through a period of well great controversies had a lot of criticism. And the potential investment from SoftBank in the consortium could bring a period of stability to the company, it could really be a new chapter for the company. The deal is tied to governance reforms, bringing in of more outside investors and other measures.
00:01:01
>> SoftBank has a history of investing in tech startups. And at nearly $70 billion, Uber is the world's most valuable venture backed company. But SoftBank parking its money there probably goes beyond finance. CEO Masayoshi Son tends to have his eye on what's next.>> Given that SoftBank often says that it's looking at a very long time horizon, even centuries ahead.
00:01:23
It could be potentially a vote of confidence, not necessarily in the company as it is now, but in the potential for the company to be central to the future of modern economy as ride sharing firms become more and more important.>> Uber is open to the move after terms for a SoftBank deal were used to make peace between two key board members.
00:01:43
Co-founder and former CEO Travis Kalanick and a top shareholder that pushed to get him removed earlier this year Benchmark capital. Sources say a successful deal would offer something of a reset for new CEO Dara Khosrowshahi, forcing Benchmark to drop a lawsuit against Kalanick while the powerful ex-boss would have to loosen his grip on the boardroom.