September 24, 2022

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TOKYO, Sept 22 (Reuters) – SoftBank Group Corp ( 9984.T ) founder and CEO Masayoshi Son will discuss a “strategic alliance” between chip designer Arma and Samsung Electronics ( 005930.KS ) during the billionaire’s first visit to South Korea of three years.

“I look forward to visiting Korea for the first time in three years. I would like to talk to Samsung about a strategic alliance with Arma,” Son said in a statement.

The visit comes amid speculation by analysts and the media about the potential formation of an industrial consortium to buy Arma.

SoftBank has outlined plans to list the chip designer in the United States as it looks to raise money after suffering a huge loss at its investment arm Vision Fund.

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Reporting by Sam Nussey; Editing by Muralikumar Anantharaman

Our standards: Thomson Reuters Trust Principles.

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