SoftBank is abandoning plans to buy $3 billion of WeWork shares from investors, a major blow to the company as it struggles to stabilize during the pandemic. The announcement was made to a board committee Wednesday evening, according to The New York Times. WeWork’s former CEO, Adam Neumann, is among the shareholders who will now miss out the chance to sell hundreds of millions of dollars worth of stock to SoftBank. The rescue deal’s collapse
source https://therealdeal.com/2020/04/02/wework-asks-landlords-to-cut-rent-bill-as-softbank-abandons-bailout/
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