SoftBank is lining up a project for reclamation. This week, the CEO of the company Masayoshi Son had swooped in to assume the control of the tune of 80% of WeWork in an event that amounted to the company which is engaged in the business of profit-sharing after the markets rejected it during an IPO.
This is not the first time this has happened and the results last time around were not very good.
Softbank, six years ago had bought a 72% stake in the company Sprint which can be increased to over 80% with time in its attempt to become a major players in the wireless sector in USA.
The two companies, WeWork and Sprint have much in common in terms of businesses however the same executives in SoftBank have been said to be at the helm of this decision and are trying to help a company with is floundering.
From the time when SoftBankhad taken the first stake in the co-sharing company worth $4.4 billion, the firm had been established already as a huge player in the Silicon Valley.
The global environment in the October of 2012 was very different at a time when the company had taken 70% of control in Sprint for $20 billion.
SoftBank had a time which he could use their experience in the industry in Japan for the creation of the quickest network in the United States.
SoftBank has succeeded in engineering the selling of Sprint to T-Mobile in the year 2018. However, SofftBank had acquired a stake of majority in the year 2013 in Sprint for a per share cost of $7.65 which =it sold at $6.62 a share.