Softbank Group gives up deal to sell U.K. chip firm over regulatory issues

Japanese investment and technology conglomerate SoftBank Group Corp. said Tuesday it has agreed to terminate a deal to sell its stake in British chip designer Arm Ltd. to U.S. semiconductor maker Nvidia Corp. due to regulatory hurdles.The announcement came after issues were raised by regulators in the United States and Europe on the potential impact on competition in the semiconductor industry. Britain had also expressed concerns over implications for national security.Softbank said it and Arm will start preparing for a public offering of the Cambridge-based firm within fiscal 2022 through …READ FULL ARTICLE