SoftBank agrees to block Kalanick's return to power at Uber if deal goes through

SoftBank agrees to block Kalanick's return to power at Uber if deal goes through

Travis Kalanick gestures whilst speaking during the opening of "Startup Fest", a five-day conference to showcase Dutch innovation, in Amsterdam, Netherlands, on Tuesday, May 24, 2016. Photographer: Marlene Awaad/Bloomberg

SoftBank Group Corp. has overcome a major obstacle to its planned multi billion-dollar investment in Uber Technologies Inc. The Japanese firm agreed to block any attempts to elevate Travis Kalanick, Uber’s controversial former leader, back to the company’s top ranks, according to people familiar with the discussions.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter