SoftBank to sell 25pc of ARM to Saudi fund

New Straits Times - - Business / World - Agen­cies

Ja­pan’s SoftBank is to place a roughly US$8 bil­lion (RM35.6 bil­lion) stake in ARM, the Bri­tish chip de­signer it bought last year, into an in­vest­ment fund it has cre­ated with Saudi Ara­bia, the Fi­nan­cial Times re­ported yes­ter­day. SoftBank, run by founder Masayoshi Son, bought ARM, Bri­tain’s most valu­able tech­nol­ogy com­pany, for US$32 bil­lion last year. The FT cited two peo­ple as say­ing SoftBank would place 25 per cent of ARM into the fund.

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