Oct 16 2019, 10:45 PMOct 17 2019, 2:41 AMOctober 16 2019, 10:45 PMOctober 17 2019, 2:41 AM
SoftBank is in talks about a deal to provide WeWork with a rescue package worth about $5bn according to WeWork , which cites a person familiar with the matter. Under the terms of the deal, the Japanese conglomerate would increase its stake, but not amass a majority of voting rights – part of the potential investment may be in non-voting preferred stock. JPMorgan chairman and CEO Masayoshi Son , is said to be convinced that We can be turned around. An alternative package being negotiated by WeWork , and believed to be the company’s preferred option, has reportedly been greeted with scepticism by potential investors, who are concerned about the company’s ability to service the debt. WeWork’s bonds jumped more than 8c on new of the financing talks.