SoftBank slashes planned investment in this coworking giant | London Business News

SoftBank Group has scrapped a planned $16bn investment in shared-office space provider WeWork, opting instead for a smaller deal of about $2bn amid market turbulence and opposition from investment partners, according to people familiar with the matter.

The two companies could announce the smaller deal as soon as Tuesday, valuing WeWork at about $36bn.

The exact reason for the pared-back investment is unclear, though the deal faced significant hurdles.

SoftBank shares have been volatile recently, falling by 33 per cent in the past three months. The company also suffered an embarrassing start to trading for its newly-listed Japanese mobile phone business in late December after raising $23bn from investors.

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