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Report: SoftBank preps new financing for WeWork, eyes control of coworking giant

SoftBank Group Corp. would invest several billion dollars in WeWork Companies Inc.'s new equity and debt, becoming the latest funding option for the The We Co. unit, which faces pressure to raise new financing following a recently postponed IPO, The Wall Street Journal reported Oct. 13, citing unnamed sources.

SoftBank's proposal would give the Japanese company, which already owns one-third of WeWork, control of the coworking giant, the paper said.

The Financial Times reported over the weekend that JPMorgan Chase was seeking to convince other major banks to take part in an emergency financing package for WeWork.