Uber’s ex-CEO to sell 29 percent of stake

Ousted Uber boss Travis Kalanick plans to sell 29 percent of his stake in the United States ridesharing giant for about $1.4 billion, Bloomberg reported Thursday, citing an unnamed source familiar with the matter. Kalanick, who co-founded the company and owns 10 percent of it, would sell the shares as part of the deal that will see a group of investors led by Japanese tech titan SoftBank acquire a major stake in Uber. The new investment, which will be finalized in January, was based on calculations valuing Uber at $48 billion, Bloomberg said.