business
I'd have vetoed foreign sale of UK tech giant, says Business Secretary
Key takeaways
- Simon Jack Business editor PA Media Business Secretary Peter Kyle says he would have intervened to block the sale of UK microchip company ARM Holdings had he been in government at the time.
- The firm, at one time considered the crown jewel of UK tech, was bought by Japanese company Softbank in 2016 before being listed in New York in 2023.
- Kyle told the BBC ARM Holdings could have been biggest firm on the London Stock Exchange if it had stayed, and that "it would be 40% of the way there to the trillion-dollar company I think our country needs".
Simon Jack Business editor PA Media Business Secretary Peter Kyle says he would have intervened to block the sale of UK microchip company ARM Holdings had he been in government at the time.
The firm, at one time considered the crown jewel of UK tech, was bought by Japanese company Softbank in 2016 before being listed in New York in 2023.
Kyle told the BBC ARM Holdings could have been biggest firm on the London Stock Exchange if it had stayed, and that "it would be 40% of the way there to the trillion-dollar company I think our country needs".
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