SoftBank has put on hold plans for a London initial public offering of the British chip technology firm Arm because of the political turmoil in the UK government, the Financial Times reported on Monday.
The departures of investment minister Gerry Grimstone and digital minister Chris Philp, following the collapse of UK Prime Minister Boris Johnson’s government earlier this month, have led SoftBank to pause discussions about Arm’s UK listing next year, the FT reported, citing people briefed on the talks.
They had both played leading roles in talks with the Japanese tech investor, according to the report. (https://on.ft.com/3zfmYen)
(Reporting by Shivani Tanna in Bengaluru; Editing by Anil D’Silva)