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SoftBank books $5.2 bln quarterly loss as WeWork comes back to bite

A man talks on the phone as he stand in front of an advertising poster of the SoftBank telecommunications company in Tokyo October 16, 2015. REUTERS/Thomas Peter/File Photo Acquire Licensing Rights

TOKYO, Nov 9 (Reuters) – SoftBank Group (9984.T) booked a $5.2 billion quarterly loss on Thursday, its fourth straight quarter in the red, as the Japanese giant took a hit from the bankruptcy of WeWork, once one of its highest-flying investments.

It was a fresh reminder of the volatility inherent in founder Masayoshi Son’s strategy of betting big on often risky start-ups.

WeWork, the office-sharing start-up whose aim to disrupt global commercial property once brought it a $47 billion valuation, sought U.S. bankruptcy protection on Monday, cementing a remarkable fall from grace.

SoftBank reported a 789 billion yen ($5.2 billion) net loss for the three months to end-September, compared with a…

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