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REPORT: The hyper-acquisitive Japanese telecom SoftBank is going to invest $3 billion WeWork

Portia Crowe
Updated
WeWork NYC
WeWork NYC

WeWork

WeWork.

Japan’s SoftBank Group Corp is close to finalizing an investment in U.S. office-sharing startup WeWork in a deal expected to be worth over $3 billion, CNBC reported on Sunday.

The investment under discussion is a $2 billion primary tranche of funding, followed by a secondary round worth more than $1 billion, CNBC reported, citing a source.

SoftBank may increase the size of the secondary investment to nearly $2 billion for a total investment of nearly $4 billion, CNBC added.

SoftBank could not immediately be reached for comment. WeWork declined to comment.

The Wall Street Journal in January reported that SoftBank was considering investing “more than $1 billion” in WeWork.

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SoftBank earlier this month announced it was buying the asset-management firm Fortress for $3.3 billion. Three days later, reports emerged that the company was looking to merge Sprint, which it owns, with T-Mobile US — an idea it had also exploerd in 2014, only to back down after telecom regulators made it clear they would block any acquisition of the fourth-largest US carrier.

The Japanese firm made headlines in December when CEO Masayoshi Son met with President Donald Trump, who announced it would invest $50 billion in the US and bring 50,000 jobs to the country. The investment is actually from the SoftBank Vision Fund and was announced in October.

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The post REPORT: The hyper-acquisitive Japanese telecom SoftBank is going to invest $3 billion WeWork appeared first on Business Insider.