SoftBank Group needs to cut and run on its entire WeWork investment, not just the shares. Covid-19 and the economics of a prolonged crisis necessitate strict pragmatism.

As recently as two weeks ago, it seemed that a move to renegotiate the Japanese conglomerate’s $3bn purchase of equity in The We Company from existing shareholders, including founder Adam Neumann, was savvy and cunning. Today, that looks ill-advised, which is why it decided not to consummate the tender offer, Bloomberg News reported, citing a statement from a committee advising WeWork’s board...

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