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SoftBank Scraps $16 Billion Plan to Buy Most of WeWorkSoftBank Group has halted a planned $16 billion investment in shared-office space provider WeWork, opting instead for a smaller deal of about $2 billion amid market turbulence and opposition from investment partners. Taiwan stock market closed lower, Taiwan Weighted ... China stock market closed lower, Shanghai Composite Indonesia stock market closed lower, IDX Composite ... Australia stock market closed lower, S & P / ASX 200 does not ... Shedoestech Can’t pretend that I’m even a little bit surprised. The sad part is WeWork is just going to keep throwing money at this problem. Sooner or later, they’re just going to end up like KWNYC.
Source: WSJ - 🏆 98. / 63 Read more »
SoftBank has slashed a planned $16 billion mega-investment in WeWork after facing objections and will now invest $2 billionThe Japanese tech investor will put just $2 billion into WeWork, down from plans to invest $16 billion, according to the Financial Times. Wamp wamp! 🚨📉🕳
Source: BusinessInsider - 🏆 729. / 51 Read more »
It took a day for WeWork's CEO to recover from the shock of a $16 billion SoftBank investment falling apart, but he quickly salvaged $2 billionAfter hearing a $16 billion investment had fallen apart, CEO Adam Neumann was reportedly able to salvage $2 billion by refusing to accept the deal was completely dead.
Source: BusinessInsider - 🏆 729. / 51 Read more »