UKs Johnson joins final push to convince Arm to list in London -FT

div classBodysc17zpet90 cdBBJodivpReuters – UK Prime Minister Boris Johnson has joined a final push to convince SoftBank Group Corpbacked chip designer Arm to list in London, the Financial Times reported on Monday, citing people familiar with the matter.p

pJohnson has written to SoftBank executives as part of the lastditch effort, the report said, adding that ministers and executives from the London Stock Exchange LSE are trying to persuade the Japanese conglomerate to rethink their preference for listing in New York. pdivdivdiv classBodysc17zpet90 cdBBJodiv

pArm, the LSE and SoftBank did not immediately respond to Reuters‘ requests for comment, while the prime minister’s office could not be immediately reached.p

pDigital minister Chris Philp and Minister for Investment Gerry Grimstone, who lead the lobbying efforts, are expected to meet SoftBank executives in the coming weeks, according to the report. p

pHowever, two people familiar with SoftBanks thinking said there was very little possibility of changing plans and listing in London, the FT added. p

pSoftBank in February shelved the sale of Arm Ltd to U.S. chipmaker Nvidia Corp in a deal valued at up to 80 billion, citing regulatory hurdles, and instead decided to list the company.p

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pp Reporting by Anirudh Saligrama and Maria Ponnezhath in Bengaluru editing by Richard Pullinp

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