THG, SB Management Terminate Option and Collaboration Agreement With Immediate Effect

By Sabela Ojea

THG PLC said Tuesday that the option and collaboration deal with SoftBank Group Corp.'s subsidiary SB Management Ltd. has been terminated with immediate effect by mutual agreement.

The U.K. e-commerce company said the decision to terminate the agreement, which was announced on May 10, was driven by the macroeconomic environment.

"The call option granted by THG to SBM will not therefore be, and will cease to be capable of being, exercise," the London-listed company said.

Shares at 1333 GMT were down 2.44 pence, or 3.5%, at 67.54 pence.

Write to Sabela Ojea at [e-mail]; @sabelaojeaguix

(END) Dow Jones Newswires

07-26-22 0957ET