SoftBank unit ARM cedes control of Chinese operations to local JV: Report

SoftBank unit ARM cedes control of Chinese operations to local JV: Report

FILE PHOTO: A man talks on the phone as he stands in front of an advertising poster of the SoftBank telecommunications company in Tokyo October 16, 2015. REUTERS/Thomas Peter/File Photo

SoftBank Group subsidiary ARM Holdings will cede control of its Chinese operations to a new joint venture involving itself and Chinese partners, Nikkei reported, citing people familiar with the matter.

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