WeWork, the world’s largest shared-workspace startup, has pulled out of talks to lease space in Canary Wharf, according to two anonymous sources.

Bloomberg reported that the New York-based company would not proceed with its plan to lease a 45,000 sq ft space at 7, Westferry Circus.

It has also decided to halt plans for an office at the second phase of Canary Wharf , which is currently being developed.

The two sources, who did not want to be named for privacy reasons, said it was the first time that WeWork had cancelled a deal in London.

They revealed that the UK’s vote to leave the EU was not the main reason for dropping the plans.

WeWork is currently valued at £11.9billion and in March it raised about £322million to help finance a push into Asia.

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