percent stake: Soft Bank did not respond to a request for comment, according to The Japan Times. Mizuho, MUFG and SMFG declined to comment. The technology conglomerate is now likely to enter the new year without the WeWork financing in place, the people said, adding the banks are also concerned about the risks involved in rescuing the U.S. office-sharing startup. ; Mizuho Financial Group Inc., Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc. are seeking ways to provide the financing while offsetting exposure, the people said, declining to be identified because the information is not public. One option is to use some of Soft Bank's 26 percent stake in Chinese e-commerce giant Alibaba Group Holding Ltd. as collateral, the people said. The talks illustrate the difficulty Soft Bank poses for Japan's banks. RELATED STORIESSoft Bank's startup bookkeeping draws scrutiny after WeWork fiasco Soft Bank will have 'last laugh' on WeWork deal, analyst predicts Soft Bank is an important client so we want to do everything we can to help, but we have to consider our credit risk, said a senior banker.
(news.financializer.com). As
reported in the news.
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