SoftBank Group explores options for chip designer Arm Holdings: WSJ
Reuters
Published Jul 13, 2020 05:17PM ET
Updated Jul 13, 2020 06:05PM ET
(Reuters) - SoftBank Group Corp (T:9984) is exploring options including a full or partial sale or public offering of British chip designer Arm Holdings, the Wall Street Journal reported on Monday.
The review, on which Goldman Sachs Group (NYSE:GS) is advising, is at an early stage, the report said, citing people familiar with the matter. (https://on.wsj.com/32do0Y9)
SoftBank acquired Arm for $32 billion in 2016, its largest-ever purchase, in part to expand into the internet of things, which connects everyday devices from traffic signals to refrigerators to the internet.
Last month, the Japanese conglomerate unveiled a series of transactions to divest more than $21 billion worth of stock in U.S. wireless carrier T-Mobile US Inc (O:TMUS), as it seeks funding for a $41 billion share buyback and debt reduction plan.
SoftBank did not respond to a Reuters request for comment outside regular business hours.
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Written By: Reuters
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