SoftBank scales back WeWork investment plans

Wework

SoftBank has binned its plans to invest $16bn (£12.5bn) in WeWork choosing instead to commit just $2bn to the flexible office provider.

The Japanese telecoms firm is expected to announce a new deal with WeWork later this week, according to several reports, which would value the global company at $36bn. Half of the money invested would be used to buy shares from existing holders.

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