(Reuters) – SoftBank has shelved plans for a London IPO for British chip technology company Arm amid political unrest in the UK government, the Financial Times reported on Monday.
The departure of Investment Secretary Gerry Grimstone and Digital Secretary Chris Philp following the collapse of British Prime Minister Boris Johnson’s government earlier this month has prompted SoftBank to pause discussions about Arm’s UK listing next year, the FT reported, citing people who have been informed of the talks .
According to the report, both had played a leading role in talks with the Japanese tech investor. (https://on.ft.com/3zfmYen)
(Reporting by Shivani Tanna in Bengaluru; Editing by Anil D’Silva)
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