THG, SB Management Terminate Option and Collaboration Agreement With Immediate Effect
27 July 2022 - 12:12AM
Dow Jones News
By Sabela Ojea
THG PLC said Tuesday that the option and collaboration deal with
SoftBank Group Corp.'s subsidiary SB Management Ltd. has been
terminated with immediate effect by mutual agreement.
The U.K. e-commerce company said the decision to terminate the
agreement, which was announced on May 10, was driven by the
macroeconomic environment.
"The call option granted by THG to SBM will not therefore be,
and will cease to be capable of being, exercise," the London-listed
company said.
Shares at 1333 GMT were down 2.44 pence, or 3.5%, at 67.54
pence.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
July 26, 2022 09:57 ET (13:57 GMT)
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