ARM sale to Nvidia scrapped over regulator challenges: SoftBank

Agence France-Presse

Posted at Feb 08 2022 03:07 PM

An ARM and SoftBank Group branded board is displayed at a news conference in London, Britain July 18, 2016. Neil Hall, Reuters/File Photo
An ARM and SoftBank Group branded board is displayed at a news conference in London, Britain July 18, 2016. Neil Hall, Reuters/File Photo


TOKYO - Japan's SoftBank confirmed Tuesday the collapse of a $40 billion deal to sell chip business ARM to Nvidia over regulatory challenges, as it reported a net profit in the third quarter.

In a statement, SoftBank said the sale had been scrapped after "significant regulatory challenges" arising from concerns the deal would undermine competition.

The announcement came as the telecoms firm-turned-investment giant reported a net profit of 29.0 billion yen ($251 million) in the third quarter, a sharp drop from the 1.17 trillion yen logged in the same three-month period in the previous financial year.

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