March 23, 2020 / 4:35 PM / 17 days ago

SoftBank nears deal to invest in Didi's self-driving unit: The Information

FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato/File Photo/File Photo

(Reuters) - SoftBank Group Corp is close to finalizing a deal to lead a $300 million investment in the autonomous driving unit of Didi Chuxing, news website The Information reported on Monday, citing people with knowledge of the situation. (bit.ly/2WJkHFD)

Earlier on Monday, SoftBank said it plans to raise as much as $41 billion to buy back shares and reduce debt, in an unprecedented move to restore investor confidence as a financial market rout pummels its shares and its portfolio companies.

Reporting by Munsif Vengattil in Bengaluru; Editing by Maju Samuel

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