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SoftBank considers investment of over $1 billion in WeWork - WSJ

Reuters

(Reuters) - SoftBank Group Corp <9984.T> is considering an investment of more than $1 billion in office-space sharing start-up WeWork, the Wall Street Journal reported, citing people familiar with the matter.

The deal could be among the first from SoftBank's $100 billion technology fund, the WSJ said. http://on.wsj.com/2jov7Ic

SoftBank and WeWork declined to comment.

WeWork is currently valued at nearly $17 billion and SoftBank's valuation of the company is expected to be at or above this figure, the WSJ said, citing the sources.

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SoftBank has earlier discussed an investment in WeWork before pulling out, the Journal reported, citing two people familiar with the matter, and added talks may not result in a deal this time.

Some SoftBank executives have raised questions whether the WeWork deal is over-valued, saying a company in the business of office space is far afield from tech-focused investments, the newspaper reported.

SoftBank also recently held discussions with Uber Technologies Inc [UBER.UL], though it isn't clear if an investment is in the pipeline, the WSJ reported.

(Reporting by Sangameswaran S and Bhanu Pratap in Bengaluru; Editing by Sunil Nair)

 
 
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