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WeWork confirms an up to $8 billion lifeline from SoftBank Group; names new executive chairman

Photo by: TechCrunch

Confirming earlier reports , The We Company and SoftBank Group agreed to a new capital infusion which will see SoftBank committing $5 billion in new financing and issuing a tender offer for another $3 billion in buybacks for shareholders. The company also said it would accelerate an existing commitment to put $1.5 billion into the short-term real estate rental company. Report: SoftBank is taking...

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