SoftBank chief executive Masayoshi Son has not proposed that Samsung buy a stake in Arm or make a pre-IPO investment, the JoongAng daily newspaper reported, citing unnamed industry sources.
The billionaire met with Samsung on Tuesday to discuss forming a “strategic alliance” with UK chip designer Arm’s Chief Executive Rene Haas also present. The meeting was Son’s first visit to Seoul in three years
Arm, a Cambridge based firm, produces technology that powers Apple’s iPhone and nearly all other smartphones.
SoftBank acquired Arm in 2016 for $32 billion. A subsequent proposed deal to sell it to Nvidia aroused industry opposition and foundered on regulatory hurdles, prompting SoftBank to outline plans for a US listing of the Cambridge-based firm.
- Reuters, with additional editing from Alfie Habershon