- SoftBank Group Corp SFTBF SFTBY Founder and CEO Masayoshi Son discussed the long-term collaboration between chip designers arm ltd and Samsung Electronics Co.,Ltd SSNLF.
- However, he did not propose that Samsung invest in the British company Reuters reports citing local media.
- Son, who was making his first visit to Seoul in three years, planned to talk strategy with Samsung alliance with arm.
- Son did not suggest during the Oct. 4 meeting that Samsung buy a stake in Arm or invest before the IPO.
- The visit comes amid speculation about the possible formation of an industrial consortium to invest in Arm, whose technology is at the forefront Apple Inc AAPL iPhone and almost all other smartphones and ensure its neutrality.
- SoftBank executives explored the possibility of a rare dual listing in the UK and US
- Still, the US has been its main attraction due to its much higher valuations. London has been criticized for being unattractive to fast-growing businesses.
- SoftBank has begun laying off employees at its loss-making Vision Fund and is likely to cut at least 30% of its staff 150 employees affected.
- SoftBank acquired Arm in 2016 for $32 billion.
- Price promotion: SFTBF shares traded up 5.10% to $36.27 on the last check Wednesday.
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