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Do you mean he would voluntarily agree to reduce his voting rights? Or was there some means to force him into that?
by throwawaysea 7y ago
Do you mean he would voluntarily agree to reduce his voting rights? Or was there some means to force him into that?
- paulsutter 7y agoIt’s an interesting standoff because his only negotiating stance would be to refuse to accept the investment and key the company go bankrupt. I guess avoiding that is worth $1.7B. Softbank would control the company after bankruptcy anyway, but the process would be messy
- hkmurakami 7y agoPresumably they may have opted for a very ominous debt package, which would have been senior to Softbank's equity, which is another thing SB would have liked to avoid.