SoftBank’s float of UK chip designer Arm is jeopardised by an escalating battle at its renegade China unit, following a failed $66bn sale to Nvidia.
The head of the joint venture, Allen Wu, has launched a third legal case against Arm China through one of his shareholder companies, according to a court filing obtained by the Financial Times.
It is Wu’s latest effort to maintain control over the crucial business unit and risks disrupting SoftBank chief Masayoshi Son’s plan for Arm to be listed on New York’s Nasdaq exchange. A planned merger with Nvidia collapsed this week amid political and regulatory resistance in the US, UK and Europe.
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