Bailout woes: Masayoshi Son at a news conference in Tokyo. SoftBank Group Corp, one of Japan’s most indebted companies, is involved in a US$9.5bil bailout for WeWork. —AP
TOKYO: Softbank Group Corp told shareholders of WeWork that it could withdraw from an agreement to buy US$3bil of stock in the embattled co-working business, casting doubt on a deal that had been set to close in about two weeks.
In a message to stockholders reviewed by Bloomberg, the Japanese conglomerate cited numerous government inquiries into WeWork, including those from US attorneys, the Securities and Exchange Commission, attorneys general in California and New York and the Manhattan district attorney.
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