SoftBank takes over 80 percent of WeWork www.theverge.com

WeWork and SoftBank have announced a deal that will see the Japanese tech giant buy out around 80 percent of the beleaguered real estate company.
Marcelo Claure, the former CEO of Sprint — which SoftBank acquired in 2012 — will be the new executive chairman at WeWork.
SoftBank is already WeWork’s largest investor, to the tune of more than $10 billion.
WeWork claims, however, that SoftBank won’t have a majority of voting rights at any company meeting, making it an “associate” rather than a subsidiary.
SoftBank CEO and chairman Masayoshi Son downplayed the the nature of what can really only be described as an extraordinary bailout.