SoftBank nears deal to invest US$3b in US startup WeWork: CNBC

[NEW YORK] Japan's SoftBank Group Corp is close to finalising an investment in US office-sharing startup WeWork in a deal expected to be worth over US$3 billion, CNBC reported on Sunday.

The investment under discussion is a US$2 billion primary tranche of funding, followed by a secondary round worth more than US$1 billion, CNBC reported, citing a source.

SoftBank may increase the size of the secondary investment to nearly US$2 billion for a total investment of nearly US$4 billion, CNBC added.

SoftBank could not immediately be reached for comment. WeWork declined to comment.

REUTERS