A worker at an electronics store opens a door printed with the logo of Softbank Corp, Japan's third-biggest wireless carrier, in Tokyo October 29, 2008. REUTERS/Kim Kyung-Hoon
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Japanese technology company Softbank Group Corp. is buying British ARM Holdings for 24.3 billion pounds ($31 billion), in a deal the British government hailed Monday as a vote of confidence in the country following last month's vote to leave the European Union.Its technology is used in 95 percent of smartphones and 80 percent of digital cameras, according to the company.One major impact of the referendum result has been a big fall in the value of the British pound but Softbank's Son said his company wasn't buying ARM on the cheap given that its share price had actually risen since the vote, offsetting any impact from the currency's fall.ARM's share price was up 42.5 percent at 16.94 pounds, just below the offer price of 17 pounds a share. Softbank's offer represents a 43 percent premium to ARM's closing share price Friday.
FOLLOW THIS ARTICLE