Skip to main content

Advertisement

Advertisement

Business

Samsung denies interest in Arm Holdings stake

Samsung denies interest in Arm Holdings stake

The logo of Samsung Electronics is seen at its office building in Seoul, South Korea South Korea, October 11, 2017. Picture taken on October 11, 2017. REUTERS/Kim Hong-Ji/Files

SEOUL: Samsung Electronics on Tuesday (Aug 4) denied a media report that it is considering buying a small stake in SoftBank Group's chip company Arm Holdings.

The Korea Times newspaper reported Samsung's interest in buying a minority stake of between 3 per cent and 5 per cent in the British chip designer as a way to reduce its royalty payment, citing an anonymous industry official.

Samsung said the report was "groundless".

Arm, the British chip technology firm, licenses its chip designs and technology to companies like Qualcomm, Apple and Samsung, which in turn use that technology in their chips for smartphones and other devices.

SoftBank is currently negotiating terms with US chipmaker Nvidia after receiving an approach about takeover interest last month, the Nikkei Asian Review reported on Sunday.

The Japanese conglomerate, which acquired Arm for US$32 billion in 2016, is exploring options including a full or partial sale or a public offering of the British chip designer, the Wall Street Journal reported in July.

Source: Reuters

Advertisement

Also worth reading

Advertisement