SoftBank seeks control of WeWork through financing package: Source

SoftBank Group Corp. has prepared a financing package for WeWork Companies Inc that would give it control over the shared office space company, a person familiar with the matter said.

The package would significantly increase the stake of SoftBank, which already owns around one third of WeWork, and further dilute the influence of co-founder Adam Neumann, said the person, who declined to be identified because of the sensitivity of the matter.

Reuters had reported that SoftBank was in negotiations to make a $1 billion investment to enable WeWork to go through a major restructuring.