SoftBank's giant investment in Uber will be finalised 'very likely in the next week'

Arianna HuffingtonWSJDUber board member Arianna Huffington.

LAGUNA BEACH, CA — SoftBank’s multi-billion-dollar investment in Uber will be finalised “very likely in the next week,” Uber board member Arianna Huffington said at the WSJD conference Monday.

Uber’s board voted earlier this month to approve the Japanese tech conglomerate’s cash infusion, which would add six more board seats and annul super-voting shares held by ex-CEO Travis Kalanick and other longtime insiders.

Through its $US93 billion Vision Fund, SoftBank plans to acquire between 14% to 20% of the world’s most valuable privately-held tech startup, Huffington said Monday.

“We are waiting at the moment on what is going to transpire with the price,” she said. “It’s all about the price.”

This story is developing. Check back for updates.

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