SoftBank Group Explores Options for Chip Designer ARM Holdings: Report

[Pelican Press 0]

SoftBank Group Explores Options for Chip Designer ARM Holdings: Report

SoftBank Group is exploring options including a full or partial ***** or public offering of British chip designer ARM Holdings, the Wall Street Journal reported on Monday.

The review, on which Goldman Sachs Group is advising, is at an early stage, the

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said, citing people familiar with the matter.

SoftBank acquired ARM for $32 billion (roughly Rs. 2.41 lakh crores) 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 ********* conglomerate unveiled a series of transactions to divest more than $21 billion (roughly Rs. 1.58 lakh crores) worth of stock in US wireless carrier T-Mobile US, as it seeks funding for a $41 billion (roughly Rs. 3.09 lakh crores) share buyback and debt reduction plan.

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

© Thomson Reuters 2020

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