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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) 

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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