Advertisement
Back To Daily Digest
Tags: BUSINESS

Can SoftBank Ensure WeWork Doesn’t Become A Sprint Fiasco?

SoftBank is attempting to redeem itself by taking up 80% control of WeWork after the coworking operator failed to go public, but this isn’t the first time the Japanese conglomerate has attempted to bailout a major company. Click To Tweet

Six years ago, SoftBank purchased a 72% stake in Sprint, eventually increasing it to 80%, to become a key player in the U.S. wireless industry.

Although WeWork and Sprint are two completely different businesses, they share the same SoftBank executives — Masayoshi Son, Marcelo Claure and Ron Fisher — attempting to make both companies profitable.

In 2018, SoftBank arranged the sale of Sprint for $6.62 per share to T-Mobile, but the conglomerate had acquired its majority stake in Sprint for $7.65 per share just five years prior. When SoftBank bought Sprint, it was the third-largest U.S. wireless carrier. By the time it was sold, it was fourth.

The Latest News
Delivered To Your Inbox

So how could WeWork’s outcome be any different? There is little to no indication that Son, Slaure and Fisher can use their Sprint method to boost investor and employee confidence in WeWork. 

Craif Moffett, a telecommunications analyst at MoffettNathanson, explained how catastrophic Sprint’s situation has been, and it feels eerily similar to WeWork’s current standing.

“Sprint has contracted steadily since SoftBank bought it, even in a growing wireless market,” said Moffett. “Their only hope for an exit is to pray their deal to sell it to T-Mobile is approved.”

ABOUT Aayat Ali
Aayat Ali

Aayat is an editor for the Daily Digest based out of Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces. Feel free to reach out to her at [email protected] View all posts by Aayat Ali

Latest on Daily Digest

Mindspace To Opens First Philadelphia Location

The Role Of Technology In A Remote Workforce

The Cost Effective Way To Combat Work Stress

Industrious To Open First Phoenix Location

How Today’s Workforce Benefits From Coworking Spaces

Today’s Culture Is Shaping Workplace Amenities

Technology Is Creating A More Flexible Work Environment

Flexible Working Is The Best Tool For Risk Managers

Could Hot Desking Be Hurting Productivity?

Ad
Advertisement

FOLLOW US

  • Facebook
  • Twitter
  • LinkedIn
  • RSS
  • instagram
  • pinterest
Ad
Advertisement
Advertisement

POPULAR ARTICLES

Advertisement

Stay On Top Of Your Game!

Subscribe To The Largest Publication On The Future Of Work And Receive Our TOP 10 News Stories Every Friday, Among Other Cool Stuff. 100% FREE

leaving so s0on?

Get A Free Subscription To Our Weekly Premium Publication

If It’s Affecting The Future Of Work, You’ll Know About It.