SoftBank looks to abandon $3-bn deal as WeWork fails to fulfill conditions

SoftBank in October agreed to buy up to $3 billion WeWork shares from existing investors through a tender offer, as part of a broader bailout worth almost $10 billion

SoftBank Group Corp is considering pulling out of a $3 billion bid to buy additional shares in WeWork, because it feels the office-space sharing firm has not met the conditions for the deal, people familiar with the matter said on Tuesday.

SoftBank's U-turn would be the latest blow for WeWork's investors, which last year saw the company's valuation plummet by tens of billions of dollars amid a failed attempt to go public and a cash crunch that threatened it with bankruptcy.

SoftBank declined to comment and WeWork did not immediately respond to a request for comment about the potential withdrawal of the