Breaking News
Investing Pro 0
Cyber Monday SALE: Up to 54% OFF InvestingPro+ CLAIM OFFER

UK PM Truss' administration seeks to persuade SoftBank to list Arm in London -FT

Current Affairs Sep 16, 2022 16:08
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: SoftBank Corp's logo is pictured at a news conference in Tokyo, Japan, February 4, 2021. REUTERS/Kim Kyung-Hoon/File Photo

(Reuters) -British Prime Minister Liz Truss' government will push for high-level talks with Japan's SoftBank Group Corp to persuade it to list British chip designer Arm Ltd in London, the Financial Times reported on Thursday.

SoftBank executives had begun to talk with British officials about the possibility of a dual listing, but were still most interested in pursuing a single listing in New York, according to the FT.

The new British government sees the chance to gain at least part of Arm's flotation as a “big and quick win” to show it was serious about the future of the City of London, the FT quoted one person familiar with the UK government’s plans as saying.

Truss' government will push to hold high-level talks after the official period of mourning for the queen ends next week, the newspaper added, citing officials familiar with the matter. (https://on.ft.com/3qFccJh)

SoftBank's billionaire founder, Masayoshi Son, had told shareholders in June he was in favor of a U.S. listing as most of the British-based chip designer's clients are based there.

The FT in July reported that the Japanese group put its plan to list Arm's shares in London on hold because of the political turmoil in the UK following the collapse of former Prime Minister Boris Johnson's government.

Arm declined to comment while SoftBank and Downing Street did not immediately respond to requests for comment.

UK PM Truss' administration seeks to persuade SoftBank to list Arm in London -FT
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email