SoftBank retains stake in Arm: Nikkei after partial sale

© Reuters. FILE PHOTO: The SoftBank Group Corp logo will be shown at the SoftBank World 2017 conference in Tokyo

(Reuters) – SoftBank Group Corp (T 🙂 will retain an interest in its chip maker Arm Holdings Ltd, even if it sells part of it Nvidia Corp. (O 🙂 or through an IPO, the Asian Review reported

The Japanese conglomerate is currently negotiating terms with Nvidia after receiving an approach last month. The report cited an unidentified source who is familiar with the matter, and it is possible that SoftBank would be involved in Nvidia after the purchase of Arm.

The report did not mention how much of the company will remain poor.

SoftBank did not respond to a Reuters request for comment.

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

SoftBank acquired the British chip designer in 2016 for $ 32 billion. This was the largest purchase to date to expand the Internet of Things, which connects everyday devices from traffic signals to refrigerators to the Internet.

In March, a 4.5 trillion yen ($ 42.50 billion) plan to buy back shares and reduce debt was presented.

As part of the plan, the group sold core assets including holdings in the Chinese e-commerce giant Alibaba Group Holding (N 🙂 and US mobile operator T-Mobile US Inc (O :).

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

($ 1 = 105.8800 yen)

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