SoftBank said to back away from part of planned WeWork bailout

SoftBank said to back away from part of planned WeWork bailout

REUTERS/Issei Kato

SoftBank Group Corp is backing away from part of its planned bailout of WeWork, due to regulatory investigations of the office sharing company, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.

Investigations into WeWork‘s business from the U.S. Securities and Exchange Commission and Justice Department are a dealbreaker for the Japanese technology conglomerate that had agreed to purchase $3 billion of WeWork shares from existing investors last fall, the report said.

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