SoftBank to provide up to $9.5 bil. to WeWork english.kyodonews.net

KYODO NEWS - 5 hours ago - 14:03 | All, World(An employee is seen behing the logo of WeWork Companies Inc. during the SoftBank World 2018 conference on July 19, 2018 in Tokyo.
)[Getty/Kyodo]TOKYO - SoftBank Group Corp. will provide up to $9.5 billion to the U.S. operator of co-working space WeWork as part of a bailout package to rebuild the embattled firm, the two companies said Wednesday.
SoftBank will own about an 80 percent stake in New-York based We Company once the funding deal is closed.
SoftBank has already invested over $10 billion into WeWork as Son pushes financing of prospective tech startups via its nearly $100 billion Vision Fund.
But the additional funding will be directly provided to the WeWork operator without using the fund, according to the Japanese company.