Early investors and employees were set to benefit from a $3bn tender offer for the troubled workspace provider but key investor SoftBank has pulled out.

Internet and telecommunications group SoftBank has withdrawn from a planned $3bn purchase of shares in US-based workspace provider WeWork.

The tender offer had formed part of a $9.5bn financing package SoftBank pledged to the company in October 2019 after it had failed to go public in a planned initial public offering.

WeWork operates a network of more than 500 shared workspaces worldwide but has been one of the companies hit hardest by the Covid-19 pandemic which has spurred millions…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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