SoftBanktighten

SoftBank to tighten governance at start-ups after WeWork debacle – Moneycontrol

softbank-to-tighten-governance-at-start-ups-after-wework-debacle-–-moneycontrol

Final Up to date : Nov 05, 2019 08:39 AM IST | Supply: Reuters

SoftBank will apply the brand new requirements to future investments and is tightening governance at corporations it backs

WeWork

SoftBank Group Corp is predicted to stipulate more durable governance requirements and restrictions on dual-class share buildings on Wednesday after WeWork pulled its IPO, the Monetary Occasions reported on November 4, citing folks briefed on the plan.

The Japanese conglomerate will apply the brand new requirements to future investments and is tightening governance at corporations it backs, the FT stated.

SoftBank was set to write down down no less than $5 billion (£3.88 billion) resulting from a hunch within the worth of the US workplace sharing startup and another prime holdings, in response to a media report.

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First Printed on Nov 5, 2019 08:37 am

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