THG Shares Dip After SoftBank Investment Option Is Ditched

THG Plc shares fell after the British online shopping emporium said it had ended a deal with SoftBank Group Corp. due to “global macroeconomic conditions.”

SoftBank, which became a major investor in THG last year, had the right to exercise an option to buy a 20% stake in the UK company’s Ingenuity business, which helps third party businesses sell goods online. THG said the option arrangement was terminated by mutual agreement, according to a statement Tuesday.