The companies aim for a definitive agreement by next month
TOKYO (Reuters) - SoftBank Group Corp <9984.T> plunged on Wednesday to a quarterly loss that was far larger than analysts' estimates, hit by the falling valuations of some of its biggest tech bets such as WeWork and Uber Technologies .
(Reuters) - WeWork is locked in negotiations this week with its largest shareholder, Softbank Group Corp <9984.T>, over a new $1 billion (812.61 million pounds) investment to enable the shared office space company to go through a major restructuring, according to sources familiar with discussions.
Japanese investor Masayoshi Son reacts after his company comes under pressure from some investors for its bets on loss-making businesses.
WeWork long had the image of a family business: a husband-and-wife pair at the helm and company slogans about how life is "better together."
SoftBank founder Masayoshi Son has relied heavily on local investors, particularly individuals, to raise capital
SoftBank Group Corp.'s $100 billion Vision Fund has 82 companies in its portfolio who delve into areas from satellites and autonomous driving to chips and cancer detection
Amazon's market value is now more than $860 billion
It was unclear whether Son would still attend the event which started on Tuesday
Son, the 61-year-old founder of SoftBank, the Japanese internet, energy and financial conglomerate that owns Sprint, is one of Saudi Arabia's biggest business partners
SoftBank's Vision Fund would gather almost $100 billion, including $45 billion from Saudi Arabia's Public Investment Fund, as well as capital from Apple Inc., the government of Abu Dhabi, and others
In deal after deal, Son pressed to meet founders face to face, urged them to take more money than they wanted
Son promised Trump that he would create 50,000 new jobs in the US via $100 bn technology fund
Son said he expects one computer chip to have the equivalent of 10,000 IQ within this period
Son, a Japanese mogul, struck another big pledge after meeting with President-elect Donald J Trump: to invest $50 billion in the United States
After a short flirtation with retirement, Son has embarked on two of the most ambitious projects of his career
One of Mistletoe's start-ups is Zipline, whose drones will be used in Rwanda to deliver blood and medicine to rural hospitals