On Breakingviews – China rival offers WeWork half an office blueprint, says mak_robyn:
People are seen outside the building of Wework's co-working space during the National Day Golden Week holiday, in central Beijing, China October 2, 2018. Picture taken October 2, 2018. REUTERS/Stringer ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. CHINA OUT.
The We Company, which may run out of cash as early as next month, is in talks with backer SoftBank for a rescue package that could value the business at just $8 billion, according to Reuters. But well before its initial public offering failed last month, Chinese peers were already grappling with similar funding woes. Slowing economic growth and weak demand in the People’s Republic pushed up office vacancy rates across 17 major cities to a decade-high of 21.
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