TOKYO – Japan’s SoftBank confirmed Tuesday that the $40 billion sale of chip business Arm to Nvidia had collapsed because of “significant regulatory challenges” over concerns about competitiveness, and said it planned to now take the unit public.
The decision comes after US authorities filed a lawsuit seeking to block the sale and probes were launched into the deal in the United Kingdom and Europe.
Alongside the announcement, the telecoms firm-turned-investment giant reported a net profit of 29.0 billion yen ($251 million) in the third quarter.
It marks a sharp drop from the 1.17 trillion yen profit logged in the same period in the previous financial year, when results were boosted by huge tech-share rallies.
With a focus on debt to drive…
