THG and Softbank scrap $1.6bn investment deal

THG headquarters

A call option agreement for a division of Japanese investment titan Softbank to acquire a $1.6bn (£1.3bn) stake in THG’s Ingenuity division has been terminated.

THG, formerly known as The Hut Group, said the share option agreement, which would have allowed one of Softbank’s subsidiaries to acquire a 20% stake in THG’s technology and logistics arm Ingenuity, has been “terminated by mutual agreement”.

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