The deal is said to be that Softbank will invest an initial $2 billion and may subsequently invest another $2 billion.

WeWork is backed by Chinese investor groups Hony Capital, backed b Legend Holdings, and China Oceanwide Holdings among others.

Earlier this month Softbank paid $3.3 billion for US private equity company Fortress Investments.

Before it paid $32 billion for ARM last year, Softbank had debt of $120 billion and this is thought to have increased since.