TOKYO (Reuters) - Shares of SoftBank Group Corp <9984.T> fell 2% in early morning trading on Wednesday as the tech conglomerate moves to take over beleaguered office-space sharing startup, WeWork, with a funding injection of $10 billion (£7.76 billion).
The deal, sources told Reuters on Tuesday, takes SoftBank's total investment in WeWork, which is scrambling for cash following a flopped IPO attempt, to more than $19 billion, with the money-losing startup now valued at just $8 billion.
Japanese markets reopened on Wednesday following a national holiday. The benchmark index <.N225> was flat.
(Reporting by Sam Nussey; Editing by Clarence Fernandez)
This story has not been edited by Firstpost staff and is generated by auto-feed.
Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.
Updated Date: Oct 23, 2019 07:05:49 IST