SoftBank makes no Arm investment proposal to Samsung-report


FILE PHOTO: A journalist raises her hand to ask a question to Japan's SoftBank Group Corp Chief Executive Masayoshi Son during a news conference in Tokyo, Japan, November 5, 2018. REUTERS/Kim Kyung-Hoon

SEOUL (Reuters) - SoftBank Group Corp founder and CEO Masayoshi Son discussed on Tuesday a long-term cooperation between chip designer Arm and Samsung Electronics, but did not propose the South Korean firm to invest in the British company, a local media reported on Wednesday.

The billionaire, who is making his first visit to Seoul in three years, said earlier that he'd like to talk with Samsung about a "strategic alliance with Arm".

The visit comes amid speculation over the potential formation of an industry consortium to invest in Arm, whose technology powers Apple's iPhone and nearly all other smartphones, and ensure its neutrality.

At a meeting held on Tuesday which Arm Chief Executive Rene Haas also attended, Son did not propose that Samsung buy a stake in Arm or make a pre-IPO investment, the JoongAng daily newspaper reported on Wednesday, citing unnamed industry sources.

SoftBank did not immediately reply to a Reuters' request for comment. Samsung declined to comment.

SoftBank acquired Arm in 2016 for $32 billion. A subsequent proposed deal to sell it to Nvidia aroused industry opposition and foundered on regulatory hurdles, prompting SoftBank to outline plans for a U.S. listing of the Cambridge-based firm.

(Reporting by Joyce Lee, Editing by Louise Heavens)

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

   

Next In Tech News

India regulator asks One 97 Communications unit to reapply for payment aggregator licence
Mercedes-Benz criticized for hiding fast acceleration behind paywall
Catfishing cosmonauts, scamming soldiers: Never fall in love online?
Opinion: Billionaires like Elon Musk, Sam Bankman-Fried didn’t save the world. They wrecked it. Let’s take it back
Elon Musk says Twitter's ban on Trump after Capitol attack was 'grave mistake'
Metaverse is a risk to human social skills, Abba Voyage producer says
South Korean capital launches self-driving bus experiment
Crypto lender Genesis subject of probe by regulators - Barron's
Binance CEO Zhao says don't fight crypto, regulate it
Amazon settlement with EU antitrust regulators possible by year end -sources

Others Also Read