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 newspaper reported, citing people briefed on the talks.
LONDON: SoftBank has put on hold plans for a London initial public offering (IPO) of the British chip technology firm Arm Ltd because of the political turmoil in the UK government, according to the Financial Times.
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 newspaper reported, citing people briefed on the talks.
They had both played leading roles in talks with the Japanese tech investor, the newspaper reported, adding that the turmoil could pave the way for SoftBank to pursue a more straightforward US IPO. — Reuters
