Wall Street isn’t playing ball with the shared workspace landlord’s inflated value
One way not to recognise a potentially heavy investment loss is to close your eyes, ignore the evidence and pretend nothing has happened. This seems to be Masayoshi Son’s approach at WeWork.
The SoftBank tech investor wants WeWork to abandon its flotation, reports the FT (£), for reasons that are not hard to guess. A listing in New York would expose the horrible truth about the allegedly hip workspace landlord. It ain’t worth $47bn, the value at which SoftBank injected the last portion of its $10.5bn investment. Try $15bn-$20bn, suggests Wall Street.
Powered by WPeMatico