BREAKING NEWS

BREAKING NEWS

SoftBank to slash planned WeWork investment - FT

SoftBank to slash planned WeWork investment -  FT
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CHINA STRINGER NETWORK(Reuters)
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(Reuters) - SoftBank Corp <9434.T> is in talks to invest $2 billion (1.6 billion pounds) in U.S. shared office space provider WeWork Cos Inc this year, a much lower amount than the $16 billion discussed towards the end of last year, the Financial Times reported on Monday.

The deal will now not include the participation of SoftBank's Vision Fund, which had been a major backer of SoftBank's existing investment in WeWork, the report said, citing two people briefed on the deal.

Reuters reported in November that loss-making WeWork had secured an additional $3 billion in funding from SoftBank.

(Reporting by Sonam Rai in Bengaluru; Editing by Maju Samuel)

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