(Bloomberg) -- SoftBank has pulled out of discussions to take over KPMG’s Number Twenty Club in London, the Sunday Times reported, citing an unidentified person.
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The private club’s staff were told that SoftBank backed away from a deal to take the lease for the club and there would be no immediate sale of the property, according to the newspaper.
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KPMG had put the Mayfair property for sale in September as part of plans to cut about GBP100 million ($129 million) in costs. The Financial Times reported last month that SoftBank was in talks to take over the club, which rents for GBP4.1 million annually.
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