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Felicia Tan
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Finance
November 5 11:49

SoftBank is to set higher administration standards

Following WeWork disaster, Softbank is bringing changes in management in subsidiaries
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SoftBank Group Corp is planning to harden administration measures and restrains on dual-class stock structures after WeWork postponed its initial public offering last week, the Financial Times informs.
The Japanese holding company will set the new standards to prospective investments and is working on implementing new rules in administration of firms it backs, the FT reported.
SoftBank was set to write down leastwise US$5 billion because of a plummet in the value of WeWork and other ventures.