Officials in China are slowing the transfer of Arm’s joint venture in the country to Arm’s parent company SoftBank, in a move that could hold up the Cambridge semiconductor company’s planned blockbuster public listing this year, according to the Financial Times.
Arm China, a joint venture in the country, agreed to a share transfer to Japan’s SoftBank last year. However, according to FT sources close to the matter, country officials are not processing the paperwork to move the Arm China shares.
“China does not want to lose Arm at this juncture,” a Chinese official supervising Arm China told the FT.
“The chip war between the US and China continues to escalate and Arm is a must-have ally for China’s chip industry.”...