REUTERS: SoftBank said it has terminated a US$3 billion tender offer for additional WeWork shares agreed last year with shareholders, drawing threats of legal action and plunging the floundering office space company further into crisis.
It also underscores the depth of the disarray at WeWork, which is undergoing a drastic restructuring and whose earnings are at risk as many countries impose orders to stay at home due to the pandemic. Investors had been concerned about its losses and a business model that involves taking long-term leases and renting out spaces for a short term.
😂😂😂👍👍👏👏👏 Poof, billions gone in a couple years with WeWork.
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