SoftBank ‘halts plans’ for Arm’s London listing amid political instability

Loss of UK chip designer's flotation would jeopardise capital's attempt to prove it can compete against US

SoftBank has reportedly halted plans to explore a London listing of Cambridge-based chip designer Arm, because of the political upheaval in the UK government.

Boris Johnson, ministers and executives from the London Stock Exchange have been involved in an 11th hour bid to persuade Japanese owner SoftBank to at least consider a partial listing of Arm in the UK. Higher valuations have made New York the financial centre of choice for most of the world's largest tech flotations.