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SoftBank in talks with Mizuho and Japan banks for $2.8bn loan

Group seeks additional funds as it looks to turn around WeWork

SoftBank Group chief Masayoshi Son needs to turnaround WeWork to convince investors to support his second Vision Fund.    © Reuters

TOKYO -- SoftBank Group is in talks to receive about 300 billion yen ($2.76 billion) in financing from Japan's leading banks, Nikkei has learned, as the company scrambles to fund a turnaround at coworking startup WeWork.

SoftBank is planning an up to $3 billion tender offer to raise its stake in WeWork parent We Co. It could provide an additional $3.3 billion to We through loans and other methods.

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