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
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Indian banks to step up IT spends as regulatory scrutiny rises
Swedish central bank lowers key rate, sees two more cuts this year
UOB CEO ‘cautiously optimistic’ on 2024; Q1 profit down 1.6% to S$1.49 billion
Australia lending rules make banks go ‘too hard’ on due diligence: Westpac
Australia banks shower investors with A$5 billion in buybacks
Bank of Japan’s Ueda signals chance of policy action if yen moves affect inflation