WeWork rival IWG reviews separating its digital and technology assets – Reuters

The 30 St Mary Axe skyscraper, which is known locally as “The Gherkin” and a building in which IWG (International Workplace Group) provides office space, is seen in London April 24, 2014. REUTERS/Stefan Wermuth

  • Third-quarter revenue dips 0.3%
  • Outlook for rest of year ‘encouraging’
  • Break-up rationale to release hidden value – analyst
  • Company to give update on review next year

Nov 2 (Reuters) – Office rental company IWG (IWG.L) is considering whether to separate its digital and technology businesses from its real estate assets, the company said on Tuesday, breaking its silence over a media report in September about a possible break-up.

The owner of the Regus and Spaces brands, which has offices in more than 3,300 locations across 110 countries, said it had started to assess the strategic and commercial rationale for such a move and would provide updates in the first half of 2022.

“The potential to more broadly leverage the intellectual property of the group, together with the ownership structure of the property portfolio, is the subject of further review,” the company said in a trading statement.

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Source: https://www.reuters.com/business/finance/iwg-upbeat-short-term-outlook-hybrid-working-props-up-demand-2021-11-02/

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