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SoftBank

SoftBank abandons plan for $3bn WeWork tender offer

Tech group nixes part of bailout but expects profit from T-Mobile/Sprint merger

SoftBank's pullout casts doubt over $1.1 billion of additional debt financing that was was linked to the deal, though the Japanese tech group says it remains committed to WeWork. (Photo by Yuki Kohara) 
WATARU SUZUKI, Nikkei staff writer | Japan

TOKYO -- SoftBank Group is backing out of a $3 billion tender offer for shares in WeWork in a move that threatens to spark legal action and escalate tensions with the founder and early backers of the U.S. coworking space provider.

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