- SoftBank Group Corp (OTC: SFTBY) founder, Chair, and CEO Masayoshi Son plans to visit Seoul for the first time in three years and discuss a potential partnership between Arm Ltd and Samsung Electronics Co Ltd (OTC: SSNLF).
- Samsung Electronics Vice Chairman Jay Y. Lee told reporters in Seoul that Son may visit Seoul in October to discuss Arm, Bloomberg reports.
- South Korean media speculated Samsung might participate in a potential joint acquisition of a stake in Arm.
- Also Read: Arm Bags Nvidia As Its First Customer For New Processor Chip
- Son has repeatedly expressed his primary focus to take Arm public in the U.S. after the planned $40 billion sale to Nvidia Corp (NASDAQ:NVDA) collapsed.
- The new U.K. government has prepared to launch a last-ditch charm offensive to persuade Japan’s Softbank to list British tech company Arm in the U.K.
- Softbank executives explored the possibility of a rare dual listing, boosting the number of funds that could invest in the company and fast-tracking it into the FTSE 100.
- Still, the U.S. was their primary attraction due to its much higher valuations. London has faced flak for its unattractiveness to fast-growing companies.
US Stocks Mixed; Dow Gains 50 Points
U.S. stocks traded mixed this morning, with the Dow Jones index gaining around 50 points on Friday.
Following the market opening Friday, the Dow traded up 0.14% to 35,323.77 while the NASDAQ fell 0.13% to 14,247.68. The S&P 500 also fell, dropping, 0.02% to 4,555.53.
