In brief: SoftBank said to be in talks for a majority stake in WeWork

SoftBank is in discussions to take a majority stake in WeWork, in what would be a giant bet on the eight-year-old provider of shared office space, according to people familiar with the talks.

The investment could total between US$15 billion and US$20 billion and would likely come from SoftBank’s Vision Fund, some of the people said. The US$92 billion Vision Fund, which is backed largely by Saudi Arabia and Abu Dhabi wealth funds as well as by SoftBank, already owns nearly 20 percent of WeWork after last year committing US$4.4 billion in equity funding at a US$20 billion valuation.

Source: The Wall Street Journal

If the deal pushes through, it will be one of the largest of the past decade’s startup boom, says the report.

Japan’s SoftBank is known for its big tech investments, which include stakes in ride-hailing firms such as US-based Uber, China’s Didi Chuxing, and Southeast Asia’s Grab.