Sina US Stock Exchange, Beijing time, November 20, the Japanese multinational corporation SoftBank (SoftBank) is in “in-depth negotiations” to acquire KPMG Mayfair Club (KPMG Mayfair Club).

It was reported last month that KPMG (KPMG) is considering closing its Mayfair Club as part of a broader cost savings plan.

In 2015, KPMG, one of the Big Four accounting firms, opened an exclusive club called “Number 20” for partners and clients in London's upscale Mayfair district (Mayfair). The five-story townhouse was originally intended for food and entertainment, but now the company is considering closing it.

According to people familiar with the matter, SoftBank has already chased out other interested people for the club. KPMG has agreed to close the “Number 20” club from January 1 next year for all members who are also audit clients of the “Number 20” club.

KPMG, one of the “Big Four,” has recalled some employees' office phones and eliminated about one-third of their personal assistants in order to cut expenses this year. Its cost savings plan, codenamed “Project Zebra,” aims to save £100 million.