SEOUL, Oct 5 (Reuters) – SoftBank Group Corp 9984.T founder and CEO Masayoshi Son mentioned on Tuesday a long-term cooperation between chip designer Arm and Samsung Electronics 005930.KS, however didn’t suggest the South Korean agency to spend money on the British firm, an area media reported on Wednesday.
The billionaire, who’s making his first go to to Seoul in three years, stated earlier that he’d like to speak with Samsung 005930.KS a couple of “strategic alliance with Arm”.
The go to comes amid hypothesis over the potential formation of an trade consortium to spend money on Arm, whose know-how powers Apple’s AAPL.O iPhone and almost all different smartphones, and guarantee its neutrality.
At a gathering held on Tuesday which Arm Chief Govt Rene Haas additionally attended, Son didn’t suggest that Samsung purchase a stake in Arm or make a pre-IPO funding, the JoongAng day by day newspaper reported on Wednesday, citing unnamed trade sources.
SoftBank didn’t instantly reply to a Reuters’ request for remark. Samsung declined to remark.
SoftBank acquired Arm in 2016 for $32 billion. A subsequent proposed deal to promote it to Nvidia NVDA.O aroused trade opposition and foundered on regulatory hurdles, prompting SoftBank to stipulate plans for a U.S. itemizing of the Cambridge-based agency.
(Reporting by Joyce Lee, Modifying by Louise Heavens)
((miyoung.kim@thomsonreuters.com; 65 6870 3026; Reuters Messaging: miyoung.kim.thomsonreuters.com@reuters.web))
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