British PM Sunak revives talks with SoftBank for Arm's London IPO

British PM Sunak revives talks with SoftBank for Arm's London IPO

FILE PHOTO: British Prime Minister Rishi Sunak speaks to the media as he visits Harris Academy at Battersea in London, Britain January 6, 2023. REUTERS/Henry Nicholls/Pool

British Prime Minister Rishi Sunak has revived talks with Japan’s SoftBank Group Corp regarding a London listing for chip designer Arm Ltd, the Financial Times reported on Monday.

Sunak met Arm’s Chief Executive Rene Haas last month in Downing Street and Masayoshi Son, the billionaire founder of SoftBank, joined via video, the report said, citing people familiar with the matter.

The meeting was described as “very constructive” by two people briefed on the matter, and “positive” by another, the FT reported.

Arm declined to comment, while SoftBank did not immediately respond to a Reuters’ query.

Son had told shareholders in June last year that he was in favour of a listing in the United States, where most of the British-based chip designer’s clients are based, although he stressed that no decision has been made.

Reuters

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter

You have 3 free stories remaining for the month. Register to continue reading our content