UK microchip maker Arm says payment allegations have been made against a senior manager at its joint venture Arm China, where it has been locked in a lengthy dispute with JV head Allen Wu. The row has cast a cloud over Nvidia’s $40bn takeover offer for Arm, according to the Daily Telegraph, which noted that Chinese regulators are investigating the deal, along with anti-monopoly officials in the UK, US and Europe.
Arm China’s board voted to fire Wu in 2020 but he had managed to retain control of the company and in recent months had appeared to distance Arm China from the British company. Arm had been unable to access the China JV’s accounts to determine the value of its stake in the venture, previously recorded at $827m, the report said.
Read the full report: Daily Telegraph.