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Johnson has written to SoftBank executives as part of the
last-ditch effort, the report said, adding 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.
Arm declined to comment on the matter, while the LSE and
SoftBank did not immediately respond to Reuters' requests for
comment.
"Following last year’s record number of tech IPOs in London, we
continue to work hard to support and encourage all firms to list
here. We hope Arm will continue to build its business here,
drawing on the UK’s unrivalled mix of skills and capital," a UK
government spokesperson told Reuters by email.
Digital 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.
However, two people familiar with SoftBank's thinking said there
was very little possibility of changing plans and listing in
London, the FT added.
SoftBank 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.
(Reporting by Anirudh Saligrama, Maria Ponnezhath, Sneha Bhowmik
and Akriti Sharma in Bengaluru Editing by Uttaresh.V and Mark
Potter)
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