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There was an article yesterday where Softbank was saying that they think they can renegotiate those LOCs to go forward even if there is no IPO this year. They
by DebtDeflation 7y ago
There was an article yesterday where Softbank was saying that they think they can renegotiate those LOCs to go forward even if there is no IPO this year. They might end up being a lot smaller and have worse terms for We though. I wouldn't be surprised if pushing Adam out was the first demand the banks made in that renegotiation.
Softbank wants to delay the IPO now because it would mean a massive writedown of their investment value.
- justincormack 7y agoI think it is clear they have to write it down anyway in any reasonable accounting.
- moltensodium 7y agoAdam seems to be the scapegoat, somewhat justified of course, but the bigger problem of this company being an obvious scam with no way to make money has not been addressed.