July 22, 2020
(Reuters) – SoftBank Group Corp’s chip company Arm Holdings Ltd has gathered takeover interest from Nvidia Corp, Bloomberg News reported https://bloom.bg/30R4Kh5 on Wednesday, citing people familiar with the matter.
Nvidia and SoftBank did not immediately respond to requests for comment, while Arm declined to comment on the report.
SoftBank, which acquired Arm for $32 billion in 2016, is exploring options including a full or partial sale or a public offering of the British chip designer, the Wall Street Journal reported last week.
Last month, the Japanese conglomerate unveiled a series of transactions to divest more than $21 billion worth of stock in U.S. wireless carrier T-Mobile US Inc, as it seeks funding for a $41 billion share buyback and debt reduction plan.
(Reporting by Munsif Vengattil in Bengaluru; Editing by Ramakrishnan M.)
