Softbank snaps up office stake

JAPAN’S Softbank is poised to take a majority stake in shared office space firm WeWork.

A multi-billion pound investment is being considered which would be a change of approach for Softbank, which has so far focused on building minority stakes in fast-growing start-ups.

It runs the Vision Fund, the world’s biggest private equity fund worth more than £70bn. Its investment could be worth between £11bn and £15bn. WeWork was valued at around £30bn earlier this year. WeWork and SoftBank declined to comment.