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TOKYO: SoftBank Group Corp said it has terminated a US$3bil 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.
TOKYO: Softbank Group Corp fell as much as 10% after a satellite operator it invested in filed for bankruptcy, ceding some gains from an unprecedented plan to sell assets and buy back shares.
SOFTBANK Group Corp. fell as much as 10% after a satellite operator it invested in filed for bankruptcy, ceding some gains from an unprecedented plan to sell assets and buy back shares.
PETALING JAYA: The novel coronavirus, or Covid-19, is not only making a mess of companies in the hotel and aviation sectors but is also upending members of the sharing economy
ASIAN tycoons are gung-ho on share buybacks at a time when industry leaders in the U.S. and Europe are holding back because of the coronavirus outbreak.
MASAYOSHI Son has been among the most fervent believers in the sharing economy, investing billions in startups that help people split the use of cars, rooms and offices. But as the coronavirus curtails unnecessary human interaction, it’s hammering such businesses and rattling the foundations of Son’s SoftBank Group Corp.
WeWork executives used to obsess over the number of people they could pack into each of the company’s shared workspaces.
TOKYO: SoftBank Group Corp said on Monday it is selling or monetising up to 4.5 trillion yen (US$41bil) in assets to buy back two trillion yen of its shares and reduce debt, sending its stock soaring to its biggest daily gain in nearly 12 years.
TOKYO: Shares of SoftBank Group Corp closed down 17% yesterday in their biggest one-day fall, hammered by investor scepticism over the outlook for tech bets, such as office sharing firm WeWork and ridehailer Uber.