SoftBank said to plan US$5B writedown driven by Uber, WeWork holdings

October 29, 2019

SoftBank is planning to take a writedown of at least US$5 billion to reflect a plunge in the value of some of its biggest holdings, including WeWork and Uber Technologies Inc., according to people with knowledge of the matter.

The Tokyo-based parent of the US$100-billion Vision Fund, which began investing in 2017, is poised to unveil the writedown when SoftBank announces second-quarter earnings on Nov. 6, said the people, who requested anonymity because the matter...READ MORE

Source: Bloomberg News