SoftBank halts plans for Arm's London IPO: report

SoftBank halts plans for Arm's London IPO: report

SoftBank Group, whose CEO is Masayoshi Son, is seeking to sell British chip design company Arm. (Photo by Kei Higuchi)

SoftBank has put on hold plans for a London initial public offering of the British chip technology firm Arm Ltd because of the political turmoil in the UK government, the Financial Times reported on Monday.

The departures of investment minister Gerry Grimstone and digital minister Chris Philp, following the collapse of UK Prime Minister Boris Johnson’s government earlier this month, have led SoftBank to pause discussions about Arm’s UK listing next year, the FT reported, citing people briefed on the talks.

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