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Report: SoftBank to take control of WeWork
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Report: SoftBank to take control of WeWork
WeWork has accepted a financial rescue package from Softbank that would give the Japanese tech conglomerate control of the company, the Wall Street Journal reported. The Softbank deal gives WeWork a lifeline as it attempts to turn around its money-losing business model. The Wall Street Journal reported that Softbank's takeover would value WeWork at $8 billion, a fraction of the $47 billion valuation Softbank had assigned the company in its last round of financing last year.
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