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Report: WeWork could receive up to US$20B majority investment from SoftBank

Co-working giant WeWork Cos. is in talks to sell a majority stake in the company to SoftBank Group Corp., The Wall Street Journal reported, citing unnamed sources.

The Japanese corporate investor could finance the investment, potentially worth between US$15 billion and US$20 billion, out of SoftBank Vision Fund, some of the sources told the publication.

The Softbank venture capital fund, which committed US$4.4 billion to WeWork in 2017, already owns close to 20% of the New York-based commercial office space startup, according to the publication.

Softbank Vision Fund is backed by the sovereign wealth funds of Saudi Arabia and Abu Dhabi, among other investors.