By Carolina Mandl, Aditi Shah and Anirban Sen
SAO PAULO/NEW DELHI/BENGALURU (Reuters) - Softbank Group is taking a direct role in managing its virus-hit hospitality startup Oyo's operations in Latin America through a joint venture which will control all hotels in the region, the head of Oyo Brazil told Reuters in an interview on Friday.
Softbank, the biggest investor in Oyo, will use part of its $5 billion Latin America fund to invest in the newly formed company called Oyo Latam which will take over 1,000 hotels mainly in Brazil and Mexico, Henrique Weaver said.
Weaver said both companies would have equal representation on the board, but did not say how much Softbank would invest.
The move comes as Oyo, valued at $10 billion in its most recent fundraising round, has been forced ...
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