SoftBank to discuss Arm ‘strategic alliance’ with Samsung

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TOKYO (Reuters) – SoftBank Group Corp founder and CEO Masayoshi Son will discuss a “strategic alliance” between chip designer Arm and Samsung Electronics during the billionaire’s first visit to South Korea in three years.

“I’m looking forward to visiting Korea for the first time in three years. I’d like to talk with Samsung about a strategic alliance with Arm,” Son said in a statement.

The visit comes amid speculation by analysts and media over the potential formation of an industry consortium to buy Arm.

SoftBank has outlined plans to list the chip designer in the United States as it looks to raise cash after booking a huge loss at its Vision Fund investment arm.

(Reporting by Sam Nussey; Editing by Muralikumar Anantharaman)