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WeWork considers rescue plans from SoftBank and JPMorgan

“SoftBank is also offering to put together loans totaling $5 billion from a consortium of financial institutions, including itself” writes This Story Was for seattletimes.com. One is being offered by SoftBank, and another from a financial consortium led by JPMorgan Chase.The board of WeWork, the cash-starved purveyor of shared office space, could choose between two competing financial rescue packages as early as Tuesday, according to people with knowledge of the matter.Once one of the world’s most celebrated startups, WeWork was valued by SoftBank at $47 billion in January but had considered selling shares in its initial public offering at a valuation as low as $15 billion.
 
Source: seattletimes.com



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