SoftBank reveals US$6.5 billion loss from Uber, WeWork turmoil
BloombergPublished on Wed, Nov 06, 2019 / 4:26 PM GMT+8
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(Nov 6): Masayoshi Son is finally disclosing the damage from SoftBank Group Corp’s bets on WeWork and Uber Technologies Inc.
The Japanese investment powerhouse on Wednesday reported its first quarterly operating loss in 14 years -- about US$6.5 billion ($8.8 billion) -- after writing down the value of a string of marquee investments. It swallowed a charge of 497.7 billion yen ($6.2 billion) for WeWork, whose spectacular implosion turned the once high-flying shared-office startup into a Silicon Valley punchline.
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