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SoftBank's Uber deal still faces regulatory review

Phone with Uber and UberEats apps displayed.
Photo by Jaap Arriens/Getty Images

SoftBank yesterday announced that its $9.3 billion investment in Uber has closed, except that's not entirely true.

Bottom line: Yes, checks have been sent and corporate governance changes implemented. But multiple sources tell Axios that the deal actually remains subject to a CFIUS review, and that SoftBank will not exercise its board voting rights until that process is closer to completion.