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10/16/2019, 4:46 PM (Source: TeleTrader)
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Softbank to invest $5B in WeWork - report

Softbank wants to pump $5 billion into WeWork and will offer the money to The We Company soon, the Nikkei Asian Review reported on Wednesday, citing sources familiar with the plans. The money is supposed to come directly from Softbank and not its Vision Fund which already has a stake in The We Company.

The funds would still not make Softbank a majority shareholder of WeWork which is currently believed to own about 19% of The We Company, WeWork's parent.

WeWork postponed its initial public offering and is currently looking for additional funding amid restructuring plans.

Breaking the News / VP