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Wednesday, 25 September 2019

SoftBank in talks to boost $1.5 billion WeWork investment pledge: FT

September 26, 2019

(Reuters) – SoftBank Group Corp <9984.T> is holding talks with WeWork to boost a $1.5 billion investment it had earlier agreed to invest in the U.S. office-sharing startup, the Financial Times reported on Wednesday.

SoftBank is planning to pledge an extra $1 billion or even more to alter warrant agreement terms it struck this year with WeWork, the report said, citing people briefed on the matter.

SoftBank would invest at least $2.5 billion, but would lower the price per share at which it acquires WeWork share, the report added.

WeWork and SoftBank did not immediately respond to request for comment.

(Reporting by Maria Ponnezhath in Bengaluru; Editing by Himani Sarkar)

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