Uber had said funds from SoftBank, subject to the closure of the deal, would help the US-based startup fuel investments in technology and expansion in its home market as well as other countries.
In the deal reached on Sunday, the reports said SoftBank will buy $1 billion in new stock valued at Uber's current valuation of $68.5 billion, but the Softbank consortium will build the majority of its stake in Uber by purchasing current Uber shares from investors to reach the 14 percent mark.
SoftBank will review the number of shares and share price before investing in Uber.
In a separate statement, Uber said if conditions on share price and minimum shares are not "satisfactory" for the SoftBank group, "there is a possibility" that it may not make an investment.
Uber is now valued at $68 billion.
Misra noted that Uber and its shareholders had agreed to commence with a tender process and engage with SoftBank after a "long and arduous process of several months".
Responding to a query from The News Minute, Uberconfirmed her resignation.
Shock news from the Queen as Charles steps into her place
The nation paid silent respect to those killed in the country's wars in a Remembrance Sunday service led by the Prince of Wales. A special tribute was held in honour of former Forces' Sweetheart Dame Vera Lynn, who celebrated her 100th birthday this year.
A deal could indeed be positive for Uber which is looking ahead to the future in the wake of recent scandals, among them workplace harassment allegations.
Interestingly, it has started talks with SoftBank for a potential investment that reports suggest could be worth as much as United States dollars 10 billion.
Currently Uber's largest shareholder is USA venture capital firm Benchmark with a 13 percent stake and founder Travis Kalanick who has a 10 percent stake.
On the successful completion of the SoftBank investment, Benchmark would drop the lawsuit entirely. In addition to his own seat, Kalanick controls two more, which are occupied by Ursula Burns, the former Xerox Corp CEO, and former Merrill Lynch & CO Inc CEO John Thain.
Uber plans to run newspaper ads informing investors about the share purchase, and SoftBank will propose a price at which it will buy stock.
The deal gives early investors such as Benchmark, whose Uber stake is worth almost $9 billion, the opportunity to cash out a very lucrative investment. The company has threatened to invest in ride-hailing rival Lyft if it does not get the Uber deal done.
William Fazekas said one of the gunmen is in custody but officers are still searching for the other person involved. At about 2:30 a.m., four men and three women were found shot outside Dirtty's in the 4600-block of Melton Road.
According to a report by AdAge , this may change soon as Amazon is trying out the freemium model for the Prime video service. The e-tail giant is the second largest subscription video on demand service provider in the US , second only to Netflix.
Following the revelations, the NAB had filed an appeal before the LHC against the mill, Sharif family, Dar and others. The three-member bench included Justice Dost Mohammad Khan and Justice Mazhar Alam Miankhel.
Somehow he ended up in London, where he had the golden opportunity to buy a then senior editor a pint of lager, and here we are. No launch price or date has been announced , though developers can sign up for a development kit on HTC's Vive Focus page .
There was no equivalent of Kanye West crashing the stage after losing in 2006 or Miley Cyrus smoking a joint in Amsterdam in 2013. The awards are held in a different European city each year, with winners selected by fans across the continent.
Going forward, all replies to Stories as well as Facebook Camera messages will be directed through Messenger. This also means that Stories once seen on Messenger will be marked as seen in the Facebook app.
However, he became a declining force once he was reported for a suspect action and subsequently banned from bowling in late 2014. But it was when he was reported in August 2014, at the peak of his powers, that his global career was effectively over.
The House bill would keep the deduction for property taxes and eliminate state and local income taxes. Republicans are also calling for reducing the number of tax brackets and lowering corporate rates.
Previously, Trump also praised Duterte's handling of the war on drugs, saying that Duterte was doing an "unbelievable job". A spokesman for Duterte , however, said "there was no mention of human rights" and "no mention of extralegal killings".
Khattar had called and said that though he would be in Delhi till Tuesday, he was very busy. Khattar said he was in Delhi on Monday and Tuesday and was open to a meeting with Mr.
Pradyuman case: CBI denies allegations of accused's father
After thorough investigation, the CBI detained the boy and claimed that he had murdered Pradyuman to get school exams postponed. We suspect that school had hatched a conspiracy along with police to save its administration and make my husband a scapegoat.
Iran says does not interfere in Lebanese state affairs
Lebanese President Michel Aoun welcomed Hariri's statements and said he hoped the prime minister would return to Lebanon soon. Saad Hariri announced resignation from the position of Lebanese Prime Minister in a video address from Riyadh on November 4 .