SoftBank Group Inc. has reportedly cut back on its plans to invest in privately held WeWork, opting against taking a controlling stake in the operator of co-shared office spaces.
SoftBank will put an additional $2 billion into WeWork, on top of the $8 billion it's already invested, Bloomberg reported citing people familiar with the situation.
In October, reports surfaced that SoftBank was considering investing between $15 billion and $20 billion in WeWork
Last month, SoftBank Group took its SoftBank Corp. unit public in Tokyo, in an IPO which fell 15% on its first day of trading.
SoftBank is one of the largest tech investors in the world, controlling both its own capital and the Vision Fund, which includes large amounts of Saudi Arabian capital.