WeWork abandoned plans for an IPO in September as investors questioned the its growing losses, business model and corporate governance
A WeWork office facility in the Financial District in New York City, New York, the US, September 13 2019. Picture: AFP/DREW ANGERER
WeWork abandoned plans for an IPO on September 30 as investors questioned the office-sharing start-up’s growing losses, its business model and corporate governance.“I think it was a success for the market. This is a positive sign that the market is behaving as it should,” the veteran investor said on Wednesday. He said, however, that he did not think markets were in a bubble.
“I don't think we're in a bubble. I don't think the conditions today are extreme or crazy ... I don't think we have to have a meltdown or a crash.” The distressed debt guru singled out China for bargains, adding that some of the Latin American countries that have gone through political or economic difficulties were also attractive.
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