SoftBank Group explores options for chip designer Arm Holdings, reports WSJ

SoftBank acquired Arm for US$32 billion (RM136.4 billion) in 2016, its largest-ever purchase, in part to expand into the internet of things, which connects everyday devices from traffic signals to refrigerators to the internet. — Reuters pic
SoftBank acquired Arm for US$32 billion (RM136.4 billion) in 2016, its largest-ever purchase, in part to expand into the internet of things, which connects everyday devices from traffic signals to refrigerators to the internet. — Reuters pic

TOKYO, July 14 — SoftBank Group Corp is exploring options including a full or partial sale or public offering of British chip designer Arm Holdings, the Wall Street Journal (WSJ) reported yesterday.

The review, on which Goldman Sachs Group is advising, is at an early stage, the report said, citing people familiar with the matter.

SoftBank acquired Arm for US$32 billion (RM136.4 billion) in 2016, its largest-ever purchase, in part to expand into the internet of things, which connects everyday devices from traffic signals to refrigerators to the internet.

Last month, the Japanese conglomerate unveiled a series of transactions to divest more than US$21 billion worth of stock in US wireless carrier T-Mobile US Inc, as it seeks funding for a US$41 billion share buyback and debt reduction plan.

SoftBank did not respond to a Reuters request for comment outside regular business hours. — Reuters

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