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Report: SoftBank-led group to invest $1B in Uber's self-driving unit

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Report: SoftBank-led group to invest $1B in Uber's self-driving unit

A SoftBank Group Corp.-led investor group is in advanced talks to invest "$1 billion or more" in Uber Technologies Inc.'s autonomous car unit ahead of its anticipated IPO, The Wall Street Journal reported March 13, citing people familiar with the matter.

According to the report, the consortium, which includes SoftBank Vision Fund LP and one unnamed carmaker, will acquire a minority stake that would value the self-driving vehicle unit at about $5 billion to $10 billion. However, the sources reportedly said the discussions remain fluid and could still fall apart.

If the talks lead to an agreement, the parties could announce the move in April, the report added.

Earlier this month, Softbank Vision Fund also made a $1.46 billion investment in Singapore-based ride-hailing firm GrabTaxi Holdings Pte Ltd, which raised its value to more than $4.5 billion.