SoftBank to take control of WeWork, sources tell CNBC

Softbank will take control of embattled company WeWork, according to people familiar with the matter, reports CNBC's David Faber. Softbank, led by Japanese billionaire Masayoshi Son, plans to spend somewhere between $4 billion and $5 billion on new equity, existing shares, sources say. The deal will value WeWork between $7.5 billion to $8 billion and could be announced as soon as Tuesday.
03:47
Mon, Oct 21 20194:02 PM EST