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WeWork Inc’s plans fail to work out

Economic Times · 7m

WeWork's plan to sell its 27% stake in WeWork India and exit the country has fallen through due to a valuation mismatch. The Competition Commission of India had previously approved the proposal, which would have seen WeWork and its partner, the Embassy Group, divest a total of 40% stake to new investors. WeWork India's CEO, Karan Virwani, is now in talks with 360 One to potentially buy some of the stake. This comes after rival coworking firm Awfis had a successful IPO in May, indicating a positive turn for the industry in India.