Tue. May 26th, 2020

SoftBank nears deal to invest in Didi’s self-driving unit: The Information

1 min read

FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo

(Reuters) – SoftBank Group Corp is close to finalizing a deal to lead a $300 million investment in the autonomous driving unit of Didi Chuxing, news website The Information reported on Monday, citing people with knowledge of the situation. (https://bit.ly/2WJkHFD)

Earlier on Monday, SoftBank said it plans to raise as much as $41 billion to buy back shares and reduce debt, in an unprecedented move to restore investor confidence as a financial market rout pummels its shares and its portfolio companies.

(Reporting by Munsif Vengattil in Bengaluru; Editing by Maju Samuel)

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