UK chip designer Arm chooses US-only listing in blow to Rishi Sunak
by Mark Sweney from Technology | The Guardian on (#69DNT)
PM had held talks with firm's owner SoftBank in effort to make London first choice for tech flotations
The Cambridge-based chip designer Arm is to pursue a US-only listing this year, dealing a major blow to Rishi Sunak's ambitions to make London the first choice for tech company flotations.
The company, which is owned by the Japanese conglomerate SoftBank, confirmed its preferred plan of seeking a US-only main listing later this year, spurning the UK despite heavy lobbying by successive prime ministers.
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