British software company Arm is planning to transfer shares in its unwieldy China joint venture to a SoftBank special purpose vehicle in a bid to speed up the path to a New York flotation, the Financial Times reported.
The UK company has struggled to regain control of its China business for almost two years and its inability to audit the financials of the unit, which contributed about one-fifth of revenue last year, is a big sticking point for a blockbuster public offering.
Read the full report: Financial Times.
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