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...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now