Japan’s SoftBank agreed to buy UK chip designer ARM Holdings because it believes the time is right to invest in Britain following the vote to leave the European Union, Chairman and CEO Masayoshi Son said.
“I know a lot of people are concerned about the complicated political situation in the UK and some of my friends have businesses in the UK and they’re very afraid,” he told a news conference in London after announcing the $32 billion deal.
“Some of them are discussing moving their headquarters out of the UK to relocate to somewhere else. I’m the opposite. I say this is the time to invest with a strong commitment and belief in the future of the UK. I’m a strong believer in the UK.”
Britain’s shock vote to leave the 28-member bloc on June 23 has hammered sterling and unnerved investors in the world’s fifth-largest economy.