Uber eyes huge investment

Reports suggest that ride hailing business, Uber could be on the cusp of agreeing a multi-billion pound investment to fuel expansion and investments in technology.

The reported $10bn (£7.6bn) investment comes via a consortium led by Japanese conglomerate Softbank and San Francisco group Dragoneer. It is claimed the deal could lead to a corporate restructure and see a share listing by 2019.

In a statement, Uber said, ‘We’ve entered into an agreement with a consortium led by SoftBank and Dragoneer on a potential investment. We believe this agreement is a strong vote of confidence in Uber’s long-term potential.’