SoftBank Reportedly Considers Sale Or IPO For Arm Holdings

(RTTNews) - Japanese conglomerate SoftBank Group Corp. (SFTBY.PK, SFTBF.PK) is considering a potential sale of the U.K.-based chip design firm Arm Holdings (ARM.L, ARMH) or an initial public offering, the Wall Street Journal reported citing people familiar with the matter.

The report said the review, on which Goldman Sachs Group is advising, is at an early stage. It is unclear whether the outside company or entity is interested in buying all or just part of Arm, which was acquired by SoftBank for about $32 billion in 2016. It is possible that SoftBank will ultimately choose to do nothing.

SoftBank is planning to sell up to $41 billion in assets to prop up its struggling portfolio and buy back its own shares.