WeWork is in discussions with T-Mobile Us Inc TMUS CEO John Legere to take over leadership of the office-sharing company, according to a Monday Wall Street Journal report.
After WeWork’s failed attempt at an initial public offering earlier this year, SoftBank Group Corp - ADR SFTBY ought a majority stake in the company in a bailout.
T-Mobile has proposed a takeover of Sprint Corp S that was approved by the Justice Department in July, but faces legal challenges from multiple state attorneys general.
The Wall Street Journal cited people familiar with the matter in the report on WeWork being in discussions with Legere.
The company has severed all ties with its previous CEO Adam Neumann, and the startup is on the lookout for another leader.
WeWork was valued at $47 billion in a financing round, but just because an investor paid that price doesn't imply that is the true worth of the company, JPMorgan Chase & Co. JPM CEO Jamie Dimon in a recent interview with CNBC.
T-Mobile shares were trading down 2.43% at $78.97 at the time of publication, while Sprint shares were down 3.85% at $5.87.
Related Links:
'I Regret It In Many Ways:' SoftBank Chairman On WeWork Investment
Photo courtesy of T-Mobile.
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