SoftBank maintains stake in Arm after partial sale: Nikkei

(Reuters) – SoftBank Group Corp (9984.T) will retain a stake in its chip company Arm Holdings Ltd, even if it sells part of it to Nvidia Corp (NVDA.O) or through an initial public offering, the Nikkei Asian Review reported here

The Japanese conglomerate is currently negotiating terms with Nvidia after receiving an approach last month, the report said, citing an unidentified source familiar with the matter, adding that it is possible that SoftBank could take a stake in Nvidia after buying Arm.

The report did not mention how much stake the company will keep in Arm.

SoftBank did not respond to a request for comment from Reuters.

The Wall Street Journal reported last month that SoftBank was exploring options, including a full or partial sale or public offering of Arm.

SoftBank acquired the British chip designer for $ 32 billion in 2016, its largest ever purchase, in part to expand into the Internet of Things, which connects everyday devices, from traffic lights to Internet refrigerators.

In March, he unveiled a 4.5 trillion yen ($ 42.50 billion) plan to buy back stocks and reduce debt.

As part of the plan, the group sold its main assets, including stakes in Chinese e-commerce giant Alibaba Group Holding (BABA.N) and the American mobile operator T-Mobile US Inc (TMUS.O).

A sale would not be part of the group’s asset monetization program, Nikkei reported.

(1 USD = 105.8800 yen)

Report by Maria Ponnerhath in Bengaluru; Edited by Mike Harrison

Our standards:Thomson Reuters Trust Principles.

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