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Uber close to selling stake to SoftBank

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Uber was close on Sunday to selling a large stake of itself to Japanese conglomerate SoftBank, officials familiar with the matter told The New York Times.

A consortium of investors led by SoftBank is seeking to buy at least 14 percent of Uber through a combination of new and existing stock.

As part of the plans, SoftBank intends to buy $1 billion worth of fresh stock in Uber.

Read more from The New York Times.

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