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SoftBank

SoftBank reviews $3bn tender offer for WeWork shares

Tech conglomerate moves to cut exposure as stock slides to more than 3-year low

SoftBank's Masayoshi Son appears to be scrambling to trim his conglomerate's exposure to the global stock market turmoil. (Photo by Yuki Kohara)

NEW YORK/TOKYO -- SoftBank Group is reviewing its plan to buy $3 billion worth of shares from existing shareholders of U.S. office sharing company WeWork, signaling the Japanese conglomerate's intention to cut back on its exposure amid a global stock market sell-off.

SoftBank told shareholders on Tuesday it was possible that the tender offer may not go ahead if the conditions for the offer were not met, according to a person familiar with the matter.

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