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BREAKING NEWS

WeWork to put up three businesses for sale - The Information

WeWork to put up three businesses for sale - The Information
FILE PHOTO: The WeWork logo is displayed on the entrance of a co-working space in New York City, New York U.S., January 8, 2019. REUTERS/Brendan McDermid/File Photo -
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Brendan McDermid(Reuters)
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(Reuters) – WeWork owner The We Company will try to sell three companies it had acquired in the last few years, The Information reported on Wednesday, citing people familiar with the matter.

The businesses being put up for sale include those that handle office cleaning services, group meetups and marketing services, according to the report. (https://bit.ly/2njWciF)

WeWork, in which SoftBank Group Corp is a shareholder, declined to comment.

The news comes a day after WeWork co-founder Adam Neumann agreed to resign as chief executive officer and give up majority voting control. (https://reut.rs/2mFOyyL)

Last week, the company also postponed its initial public offering, walking away from preparations to launch it this month after a lackluster response from investors to its plans.

(Reporting by Bharath Manjesh in Bengaluru; Editing by Shounak Dasgupta)

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