TOKYO, Oct 23 (Reuters) - Shares of SoftBank Group Corp 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.
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 was flat. (Reporting by Sam Nussey; Editing by Clarence Fernandez)