SoftBank Group Corp.'s talks to secure $3 billion (about ¥328 billion) from the nation's three biggest banks have stalled as the lenders have hit internal lending limits to the firm, two people said, complicating a $9.5 billion rescue package for WeWork.
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.