The offices of the London Stock Exchange Group are seen in the City of London, Britain December 29, 2017. REUTERS/Toby Melville/

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July 21 (Reuters) – The London Stock Exchange (LSE) Group Plc (LSEG.L) is pushing for a UK listing of SoftBank-owned chip technology company Arm Ltd, Bloomberg News reported on Thursday, citing the general manager of the exchange, Julia Hoggett. .

SoftBank (9984.T) has suspended plans for an initial public offering (IPO) in London for Arm – which supplies the intellectual property in the chips that power most of the world’s smartphones – due to political unrest within of the British government, the Financial Times reported on Monday. Read more

Hoggett said there is a “very compelling” case for Arm to have a dual primary listing in the UK, according to the Bloomberg report.

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SoftBank’s billionaire founder, Masayoshi Son, told shareholders in June that he favored a US listing because most customers of British chip designers are based there. Read more

SoftBank acquired Cambridge, England-based Arm for $32 billion in 2016.

LSE and SoftBank did not immediately respond to requests for comment from Reuters.

Thomson Reuters (TRI.TO), the parent company of Reuters News, has a minority stake in the London Stock Exchange Group following the swap deal with Refinitiv.

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Reporting by Shanima A in Bengaluru; Editing by Rashmi Aich and Shailesh Kuber

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