THG Plc shares fell after the British online shopping emporium said it had ended a deal with SoftBank Group Corp. due to “global macroeconomic conditions.”
Speculation has been mounting for months that SoftBank, one of the world’s largest strategic investors, would not exercise the option. SoftBank had the right to exercise an option to buy a 20% stake in the UK company’s Ingenuity business, which helps third party businesses sell goods online. There has been no comments since as to why the contract between the two parties was terminated.
Why do you believe it was terminated?