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SoftBank to slash planned WeWork investment: FT


(Reuters) - <9434.T> is in talks to invest $2 billion in U.S. shared office space provider Cos Inc this year, a much lower amount than the $16 billion discussed towards the end of last year, reported on Monday.

The deal will now not include the participation of SoftBank's Vision Fund, which had been a major backer of SoftBank's existing investment in WeWork, the report said, citing two people briefed on the deal.

reported in November that loss-making had secured an additional $3 billion in funding from SoftBank.

(Reporting by in Bengaluru; Editing by Maju Samuel)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, January 08 2019. 02:09 IST