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Uber is in exclusive talks to line up funding from four investors, but a deal, which could reach as much as $12 billion, hangs on the outcome of a courtroom brawl between two board members. Funding would come from Japan’s SoftBank Group and Chinese ride-hailing juggernaut Didi Chuxing, along with U.S. equity firms Dragoneer Investment Group and General Atlantic, reported Bloomberg, citing an anonymous source. China’s Tencent Holdings Ltd. has also explored contributing funds to the round. New investors may be given the power to appoint as many as two representatives to Uber’s board, the people said. But the lawsuit poses major complications. An outstanding question is whether Kalanick would relinquish his seat or the two empty ones under his control, which is the focus of Benchmark’s suit, or whether new seats would be created. Read original article |
