Uber gives green light for sale of stake to Japan's SoftBank

Scandal hit ride-sharing company Uber on Sunday announced a deal to sell a stake to Japan's SoftBank, as the firm looks to turn a new page ahead of its planned IPO by 2019. The move was unveiled shortly after reports emerged that its former CEO Travis Kalanick and an influential investor had buried the hatchet in a long feud that paved the way for the acquisition. "We believe this agreement is a strong vote of confidence in Uber's long-term potential," it added.

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