Lisa lee. Lets begin with sonali. Wework, not surprisingly, continues. There is a question of who will finance this company and softbank takes control. Trying to get a loan deal done but there is something unique. Please explain. Sonali softbank said we work as the coborrower here. Softbank had become intertwined since they got into this deal. Softbank has been emerging as somebody that banks want to work with, despite the troubles that have happened, they are seeing portfolio companies, something to look out for next year is doordash. Also a Portfolio Company in the vision fund, working with j. P. Morgan for a Credit Facility here. Lisa softbank is listed as the main borrower. I found this fascinating. They are putting their own money and name on the block here. How much of a liability is this for softbank in a broad sense . And isolated case of them bringing it into their purview . Are they going to bring other portfolios in . Sonali we work is a oneoff given how far it has fallen fr
Sconces willt of break records in sales. Sonali basak, natalie wong and lisa lee. Lets begin with sonali. There is a question of who will finance this company and as softbank takes control. Goldman sachs trying to get a loan deal done but there is something unique. Please explain. Sonali softbank said we work as the coborrower here. Softbank and we work had become intertwined since they got into this deal. Softbank has been emerging as somebody that banks want to work with, despite the troubles that have happened, they are seeing portfolio companies, something they have a big Portfolio Company. Something to look out for next year is doordash. Also a Portfolio Company in the vision fund, working with j. P. Morgan for a Credit Facility here. Lisa softbank is listed as the main borrower. They are putting their own money and name on the block here. How much of a liability is this for softbank in a broad sense . Case ofk in isolated this coming into their purview . Are they going to bring o
Lets get into some of the burning issues. With me today are sonali basak, adam tempkin, and natalie wong. The total value of u. S. Buyouts has fallen 25 through october compared to the year last year. Why are private equity firms not putting more of their cash to work . Sonali one reason you can think of is valuation. Morgan stanley has pinned the first half of the year as the highest since 2000. Equity valuations are high but leverage levels are also high. One way that private equity firms make a return is by delevering the companies they invest in. Lisa are we expecting to see a pickup in a number of lbos next year . Sonali people are waiting for valuation to come down a little bit. Only so long you can hold onto cash. Everybody is looking at Warren Buffett, wanting him to spend more. Until that happens, until people get comfortable with the debt markets, youll not see it come back. Lisa even Warren Buffett tried to bid on a deal but got outbid by a private equity firm. He said, i do
Cystic fibrosis patients wait to hear if two life changing drugs will be made available on the nhs in scotland. Coming up on afternoon live all the sport with olly. England announce their squad for the Rugby World Cup. They have gone early as well. There is one uncapped player in there, three who only made their debuts yesterday and obtain a tear, the centre, is out. Is that for disciplinary reasons . All the details coming up then tear. Thanks olly and stav has all the weather unsettled all week. There will be a couple of days with drier and brighter weather as well. I will have all the details for you later. And also a Global Weather story to talk about too. Thanks stav. Also coming up the unswerving devotion of a football fan. How the 11 year old floored by a lamp post got to meet his idol mo salah. Hello everyone this is afternoon live. Im martine croxall. Hong Kong International airport has cancelled all flights, as Anti Government protests in its main terminal continue for a four
Other chinese tech companies. A warm welcome to the programme, briefing you on all you need to know in global news, business and sport. Also in the programme, a group of mps are discussing a ban on drivers using hands free mobile devices in england and wales. They argue it can distract a driver in the same way as a hand held device. Do you agree . How would such a move impact you . Get in touch just use the hashtag bbcthebriefing. Hong kongs leader, carrie lam, says violence is pushing hong kong down what shes calling a path of no return. She says the rule of law was being damaged and that the citys recovery from Anti Government protests could take a long time. A day after protesters brought hong kong airport to a standstill, passengers are still facing lengthy delays as the aviation authorities tackle a backlog of flights. More than 300 flights in and out of the city have been cancelled. Bill hayton has the latest. Hong kong airport is malfunctioning, though things are far from normal