Wednesday , September 23 2020
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WeGiveIn: SoftBank to the rescue

Breaking from CNBC:SoftBank will take control of embattled work space company WeWork, according to people familiar with the matter.SoftBank, led by Japanese billionaire Masayoshi Son, plans to spend somewhere between billion and billion on new equity and existing shares, sources say. Most of the purchases, sources told CNBC, will be in new equity.The deal will value WeWork between .5 billion to billion and could be announced as soon as Tuesday. It is SoftBank itself taking control, not the start-up focused Vision Fund. After the move, SoftBank would then have as much as 70% or more control of WeWork.If true, it will bring the total amount of capital invested in the We Company, née WeWork, to between .8bn and .8bn. All for a valuation of .5bn to bn. Nice one guys.There

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