British PM Sunak revives talks for Arm’s London IPO -FT

(Reuters) – British Prime Minister Rishi Sunak has revived talks with Japan’s SoftBank Group Corp regarding a London listing for chip designer Arm Ltd, the Financial Times reported on Monday.

Sunak met Arm’s Chief Executive Rene Haas last month in Downing Street and Masayoshi Son, the billionaire founder of SoftBank, joined via video, the report said, citing people familiar with the matter.

The meeting was described as “very constructive” by two people briefed on the matter, and “positive” by another, the FT reported.

Arm and SoftBank did not immediately respond to Reuters’ request for comment.

Son had told shareholders in June last year that he was in favour of a listing in the United States, where most of the British-based chip designer’s clients are based, although he stressed that no decision has been made.

(Reporting by Lavanya Ahire in Bengaluru; Editing by Savio D’Souza)