Exclusive: U.S. panel okays SoftBank’s $2.25 billion investment in…

FILE PHOTO: People walk near the logo of SoftBank Corp in Tokyo, Dec. 18, 2014. REUTERS/Toru Hanai

WASHINGTON (Reuters) – A U.S. national security panel on Friday approved a $2.25 billion investment by Japan’s Softbank in Cruise, a self-driving vehicle firm majority owned by GM, the unit told Reuters, signalling some leeway for investors with deep ties to China.

The panel, known as CFIUS, approved the investment based on fresh assurances that Cruise’s technology would be completely off limits to SoftBank, whose investments in Chinese mobility firms have rattled U.S. authorities, a source familiar with the matter said.

Additional Reporting by David Shepardson; Editing by Cynthia Osterman

What do you think?

5559 points
Upvote Downvote

Written by wcrcleaders

Cricket: Teenager Shaheen bowls Pakistan to victory over Bangladesh

Amazon founder Bezos’ divorce final with $38 billion settlement:…