SoftBank is now Uber's largest shareholder as deal closes

SAN FRANCISCO (Reuters) - A group of investors led by SoftBank Group Corp (9984.T) closed a deal with Uber Technologies Inc [UBER.UL] on Thursday, making SoftBank the largest stakeholder in the ride-services firm and providing a much-needed boost to controversy-ridden Uber. The deal includes a large purchase of shares from existing Uber investors and employees at a discounted valuation for the company of $48 billion, a 30 percent drop from Uber’s most recent valuation of $68 billion. These se...