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SoftBank Group on Thursday booked a quarterly loss of 789 billion yen , marking its fourth straight quarter in the red, as investment losses offset proceeds from the initial public offering of...
TOKYO (Reuters) -SoftBank Group booked a $5.2 billion quarterly loss on Thursday, its fourth straight quarter in the red, as the Japanese giant took a hit from the bankruptcy of the once high-flying WeWork and wrote down the value of tech investments. It was a fresh reminder of the volatility inherent in founder Masayoshi Son's strategy of betting big on often risky start-ups. WeWork sought U.S. bankruptcy protection on Monday, cementing the remarkable fall of a start-up that had once been valued at $47 billion.
WeWork's $3 billion debt for equity swap deal with its creditors marks the latest effort by top shareholder SoftBank to revive the troubled office-space provider and recoup some of the billions it...
By Anton Bridge TOKYO (Reuters) - WeWork's $3 billion debt for equity swap deal with its creditors marks the latest effort by top shareholder SoftBank ...
