SoftBank has slashed a planned $16 billion mega-investment in WeWork after facing objections and will now invest $2 billion

SoftBank has moved in an opposite direction from its intend to put $16 billion into the mutual workspace organization WeWork, as indicated by Financial Times.

Rather, SoftBank will contribute just $2 billion, as per Financial Times, which said WeWork and SoftBank are late in the transaction procedure. The arrangement is required to be declared right on time one week from now, however it has not been settled, as indicated by the report, which refers to unknown sources.

SoftBank has just put $8 billion into the startup.

SoftBank’s arrangement to put $16 billion into WeWork was first revealed by The Wall Street Journal back in October.

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Business Insider

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